Stokes Family Office LLC Sells 430 Shares of Broadcom Inc. (NASDAQ:AVGO)

Stokes Family Office LLC lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 25.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,232 shares of the semiconductor manufacturer’s stock after selling 430 shares during the quarter. Stokes Family Office LLC’s holdings in Broadcom were worth $1,375,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AVGO. J.W. Cole Advisors Inc. boosted its position in Broadcom by 28.2% during the third quarter. J.W. Cole Advisors Inc. now owns 2,313 shares of the semiconductor manufacturer’s stock valued at $1,921,000 after acquiring an additional 509 shares during the last quarter. Bangor Savings Bank boosted its position in Broadcom by 8.6% during the third quarter. Bangor Savings Bank now owns 428 shares of the semiconductor manufacturer’s stock valued at $355,000 after acquiring an additional 34 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Broadcom by 1.5% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 202,700 shares of the semiconductor manufacturer’s stock valued at $168,359,000 after acquiring an additional 2,900 shares during the last quarter. Advisor Resource Council boosted its position in Broadcom by 14.9% during the third quarter. Advisor Resource Council now owns 772 shares of the semiconductor manufacturer’s stock valued at $641,000 after acquiring an additional 100 shares during the last quarter. Finally, Strategic Investment Advisors MI boosted its position in Broadcom by 85.8% during the third quarter. Strategic Investment Advisors MI now owns 5,818 shares of the semiconductor manufacturer’s stock valued at $4,833,000 after acquiring an additional 2,687 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AVGO. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Monday, April 8th. Susquehanna upped their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Evercore ISI initiated coverage on shares of Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price objective on the stock. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Activity

In other news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 3.2 %

NASDAQ:AVGO traded up $39.54 on Friday, hitting $1,278.11. The stock had a trading volume of 2,487,939 shares, compared to its average volume of 2,905,354. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The stock has a market cap of $592.30 billion, a P/E ratio of 47.37, a price-to-earnings-growth ratio of 2.53 and a beta of 1.25. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The firm’s fifty day simple moving average is $1,309.02 and its two-hundred day simple moving average is $1,145.17.

Broadcom (NASDAQ:AVGO) last posted 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. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter last year, the business posted $9.83 EPS. Analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

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.