Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,972 shares of the semiconductor manufacturer’s stock after selling 2,366 shares during the period. Broadcom makes up approximately 6.0% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 2nd largest position. Adell Harriman & Carpenter Inc.’s holdings in Broadcom were worth $64,712,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. bought a new stake in shares of Broadcom during the fourth quarter worth about $25,000. PSI Advisors LLC boosted its position in shares of Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 10 shares during the last quarter. Macroview Investment Management LLC bought a new stake in Broadcom in the 3rd quarter worth about $29,000. BKM Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter worth $29,000. Finally, CKW Financial Group bought a new position in Broadcom during the fourth quarter valued at $30,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded down $5.45 during trading hours on Monday, reaching $1,338.62. The stock had a trading volume of 1,296,587 shares, compared to its average volume of 2,915,589. The firm has a market cap of $620.34 billion, a price-to-earnings ratio of 49.58, a PEG ratio of 2.74 and a beta of 1.25. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The firm has a 50-day moving average of $1,306.70 and a 200-day moving average of $1,137.84. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the prior year, the firm earned $9.83 earnings per share. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. Equities research analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Analyst Ratings Changes

Several analysts have issued reports on AVGO shares. Evercore ISI assumed coverage on shares of Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price on the stock. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Cantor Fitzgerald lifted their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Mizuho lifted their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a research note on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Activity

In other news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the transaction, the insider now owns 46,974 shares in the company, valued at $61,957,296.78. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kirsten M. Spears sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $1,343.14, for a total value of $4,029,420.00. Following the completion of the sale, the chief financial officer now directly owns 43,459 shares in the company, valued at approximately $58,371,521.26. The disclosure for this sale can be found here. In the last three months, insiders sold 29,920 shares of company stock worth $40,306,667. Company insiders own 2.00% of the company’s stock.

About Broadcom

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.