Zhang Financial LLC Decreases Position in Broadcom Inc. (NASDAQ:AVGO)

Zhang Financial LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 7.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,039 shares of the semiconductor manufacturer’s stock after selling 154 shares during the period. Zhang Financial LLC’s holdings in Broadcom were worth $2,277,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. RMR Wealth Builders lifted its position in shares of Broadcom by 6.5% during the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after purchasing an additional 388 shares during the last quarter. Czech National Bank lifted its position in shares of Broadcom by 46.1% during the 3rd quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock worth $59,909,000 after purchasing an additional 22,774 shares during the last quarter. Alpha Omega Wealth Management LLC lifted its position in shares of Broadcom by 66.6% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock worth $4,756,000 after purchasing an additional 1,704 shares during the last quarter. CI Investments Inc. lifted its position in shares of Broadcom by 89.4% during the 3rd quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock worth $114,221,000 after purchasing an additional 64,912 shares during the last quarter. Finally, NatWest Group plc lifted its position in shares of Broadcom by 8.2% during the 4th quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock worth $9,263,000 after purchasing an additional 631 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded down $41.99 during midday trading on Friday, hitting $1,217.00. The stock had a trading volume of 2,081,861 shares, compared to its average volume of 2,934,295. The company has a market capitalization of $563.98 billion, a PE ratio of 45.98, a P/E/G ratio of 2.62 and a beta of 1.25. The stock has a 50 day moving average price of $1,306.69 and a two-hundred day moving average price of $1,116.18. 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 Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.83 earnings per share. As a group, equities analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Barclays lifted their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday. Susquehanna lifted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Buying and Selling

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $1,367.52, for a total value of $3,418,800.00. Following the sale, the insider now owns 44,474 shares of the company’s stock, valued at $60,819,084.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,920 shares of company stock valued at $40,306,667. Corporate 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.