Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Godsey & Gibb Inc.

Godsey & Gibb Inc. reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 175,577 shares of the semiconductor manufacturer’s stock after selling 5,095 shares during the period. Broadcom makes up approximately 4.1% of Godsey & Gibb Inc.’s holdings, making the stock its biggest holding. Godsey & Gibb Inc.’s holdings in Broadcom were worth $40,706,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Presilium Private Wealth LLC acquired a new position in shares of Broadcom during the fourth quarter worth about $281,000. Caldwell Investment Management Ltd. lifted its stake in Broadcom by 144.2% in the 4th quarter. Caldwell Investment Management Ltd. now owns 10,500 shares of the semiconductor manufacturer’s stock valued at $2,470,000 after acquiring an additional 6,200 shares in the last quarter. Wiser Wealth Management Inc boosted its position in Broadcom by 24.9% during the 4th quarter. Wiser Wealth Management Inc now owns 1,598 shares of the semiconductor manufacturer’s stock worth $370,000 after acquiring an additional 319 shares during the last quarter. Apella Capital LLC grew its stake in shares of Broadcom by 6.2% during the 4th quarter. Apella Capital LLC now owns 2,956 shares of the semiconductor manufacturer’s stock worth $685,000 after acquiring an additional 172 shares in the last quarter. Finally, Meyer Handelman Co. raised its holdings in shares of Broadcom by 2.0% in the fourth quarter. Meyer Handelman Co. now owns 3,073 shares of the semiconductor manufacturer’s stock valued at $712,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Jefferies Financial Group raised their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Robert W. Baird upped their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Truist Financial boosted their price target on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $223.54.

Broadcom Price Performance

Shares of Broadcom stock opened at $229.41 on Friday. The company has a 50-day simple moving average of $200.02 and a two-hundred day simple moving average of $177.11. Broadcom Inc. has a twelve month low of $109.02 and a twelve month high of $251.88. The stock has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 187.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 earnings per share. Analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Insider Activity at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Broadcom Company Profile

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.