Hudson Valley Investment Advisors Inc. ADV Decreases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Hudson Valley Investment Advisors Inc. ADV lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.3% in the fourth quarter, Holdings Channel reports. The fund owned 62,433 shares of the semiconductor manufacturer’s stock after selling 1,469 shares during the quarter. Broadcom comprises 1.6% of Hudson Valley Investment Advisors Inc. ADV’s investment portfolio, making the stock its 13th biggest holding. Hudson Valley Investment Advisors Inc. ADV’s holdings in Broadcom were worth $14,475,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Michael S. Ryan Inc. raised its stake in Broadcom by 0.7% during the 4th quarter. Michael S. Ryan Inc. now owns 8,959 shares of the semiconductor manufacturer’s stock worth $2,077,000 after acquiring an additional 61 shares during the period. Private Client Services LLC increased its stake in shares of Broadcom by 2.1% in the fourth quarter. Private Client Services LLC now owns 3,269 shares of the semiconductor manufacturer’s stock worth $758,000 after purchasing an additional 67 shares in the last quarter. Fulton Bank N.A. raised its position in shares of Broadcom by 9.7% during the 4th quarter. Fulton Bank N.A. now owns 96,602 shares of the semiconductor manufacturer’s stock valued at $22,396,000 after purchasing an additional 8,545 shares during the period. Collective Family Office LLC lifted its stake in shares of Broadcom by 3.4% during the 4th quarter. Collective Family Office LLC now owns 3,010 shares of the semiconductor manufacturer’s stock valued at $698,000 after buying an additional 100 shares in the last quarter. Finally, Park National Corp OH boosted its holdings in Broadcom by 8.9% in the 4th quarter. Park National Corp OH now owns 11,912 shares of the semiconductor manufacturer’s stock worth $2,762,000 after buying an additional 974 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 0.3 %

AVGO opened at $229.31 on Friday. Broadcom Inc. has a 52 week low of $106.26 and a 52 week high of $251.88. The company has a market capitalization of $1.07 trillion, a P/E ratio of 199.23, a PEG ratio of 2.15 and a beta of 1.03. The stock’s fifty day moving average is $195.79 and its two-hundred day moving average is $175.31. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. Analysts forecast that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Analyst Ratings Changes

A number of equities research analysts have commented on AVGO shares. Piper Sandler raised their price target on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Bank of America boosted their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. UBS Group increased their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Morgan Stanley upped their target price on shares of Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, William Blair began coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.88.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Harry L. You sold 6,540 shares of Broadcom 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 187,278 shares of company stock valued at $44,046,240 over the last ninety days. 2.00% of the stock is owned by company 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.