Broadcom Inc. (NASDAQ:AVGO) Holdings Reduced by Eley Financial Management Inc

Eley Financial Management Inc cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,358 shares of the semiconductor manufacturer’s stock after selling 117 shares during the period. Broadcom makes up approximately 1.8% of Eley Financial Management Inc’s holdings, making the stock its 19th biggest position. Eley Financial Management Inc’s holdings in Broadcom were worth $3,748,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Lyell Wealth Management LP increased its stake in Broadcom by 3.5% in the 4th quarter. Lyell Wealth Management LP now owns 1,577 shares of the semiconductor manufacturer’s stock valued at $1,760,000 after buying an additional 54 shares during the period. BIP Wealth LLC acquired a new position in shares of Broadcom during the 4th quarter worth $211,000. Sycomore Asset Management increased its stake in shares of Broadcom by 24.3% during the 4th quarter. Sycomore Asset Management now owns 10,139 shares of the semiconductor manufacturer’s stock worth $11,418,000 after purchasing an additional 1,979 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Broadcom by 10.6% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,351 shares of the semiconductor manufacturer’s stock worth $11,554,000 after purchasing an additional 995 shares during the last quarter. Finally, Atria Wealth Solutions Inc. increased its stake in shares of Broadcom by 6.0% during the 4th quarter. Atria Wealth Solutions Inc. now owns 17,621 shares of the semiconductor manufacturer’s stock worth $19,670,000 after purchasing an additional 991 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 4.1 %

AVGO traded up $52.44 during trading on Friday, reaching $1,346.86. The stock had a trading volume of 1,131,947 shares, compared to its average volume of 2,919,257. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The company has a market capitalization of $624.16 billion, a price-to-earnings ratio of 49.86, a P/E/G ratio of 2.56 and a beta of 1.25. The stock’s 50 day moving average is $1,304.73 and its two-hundred day moving average is $1,130.68. 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 released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same period last year, the firm posted $9.83 earnings per share. Broadcom’s revenue was up 34.2% compared to the same quarter last year. As a group, analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Susquehanna raised their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the sale, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the sale, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Broadcom 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.