Alan B Lancz & Associates Inc. Sells 300 Shares of Broadcom Inc. (NASDAQ:AVGO)

Alan B Lancz & Associates Inc. cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 13.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,950 shares of the semiconductor manufacturer’s stock after selling 300 shares during the period. Alan B Lancz & Associates Inc.’s holdings in Broadcom were worth $452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Patton Albertson Miller Group LLC lifted its holdings in Broadcom by 3.0% during the 4th quarter. Patton Albertson Miller Group LLC now owns 63,328 shares of the semiconductor manufacturer’s stock worth $14,682,000 after purchasing an additional 1,832 shares during the last quarter. Juncture Wealth Strategies LLC increased its position in Broadcom by 11.7% during the 4th quarter. Juncture Wealth Strategies LLC now owns 3,775 shares of the semiconductor manufacturer’s stock worth $875,000 after buying an additional 395 shares during the period. Insight Inv LLC lifted its holdings in shares of Broadcom by 8.7% during the fourth quarter. Insight Inv LLC now owns 2,120 shares of the semiconductor manufacturer’s stock worth $492,000 after buying an additional 170 shares in the last quarter. Stewardship Advisors LLC boosted its position in shares of Broadcom by 23.0% in the fourth quarter. Stewardship Advisors LLC now owns 1,575 shares of the semiconductor manufacturer’s stock valued at $365,000 after acquiring an additional 294 shares during the period. Finally, First Bancorp Inc ME acquired a new position in shares of Broadcom in the fourth quarter valued at about $302,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on AVGO. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Jefferies Financial Group increased their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Mizuho upped their price objective on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $225.83.

Insider Activity

In related news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

Shares of Broadcom stock opened at $202.13 on Tuesday. The stock has a market cap of $947.46 billion, a price-to-earnings ratio of 164.87, a P/E/G ratio of 2.52 and a beta of 1.03. Broadcom Inc. has a twelve month low of $117.43 and a twelve month high of $251.88. The company’s fifty day moving average is $208.80 and its 200 day moving average is $180.62. 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 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The business’s revenue was up 51.2% on a year-over-year basis. Sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.17%. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

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.