Optimist Retirement Group LLC Sells 457 Shares of Broadcom Inc. (NASDAQ:AVGO)

Optimist Retirement Group LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 21.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,647 shares of the semiconductor manufacturer’s stock after selling 457 shares during the period. Broadcom comprises 1.4% of Optimist Retirement Group LLC’s investment portfolio, making the stock its 10th biggest position. Optimist Retirement Group LLC’s holdings in Broadcom were worth $2,645,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. TBH Global Asset Management LLC increased its holdings in Broadcom by 29.2% in the 4th quarter. TBH Global Asset Management LLC now owns 641 shares of the semiconductor manufacturer’s stock worth $715,000 after acquiring an additional 145 shares in the last quarter. Gilbert & Cook Inc. grew its position in shares of Broadcom by 4.9% in the fourth quarter. Gilbert & Cook Inc. now owns 837 shares of the semiconductor manufacturer’s stock valued at $934,000 after purchasing an additional 39 shares during the period. Aveo Capital Partners LLC increased its stake in shares of Broadcom by 15.9% during the fourth quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock worth $512,000 after purchasing an additional 63 shares in the last quarter. 9258 Wealth Management LLC raised its position in shares of Broadcom by 1.5% during the 4th quarter. 9258 Wealth Management LLC now owns 3,884 shares of the semiconductor manufacturer’s stock worth $4,336,000 after purchasing an additional 58 shares during the last quarter. Finally, Gryphon Financial Partners LLC lifted its stake in Broadcom by 99.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock valued at $1,731,000 after buying an additional 801 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $161.67 on Thursday. The stock has a market cap of $752.55 billion, a PE ratio of 6.95, a P/E/G ratio of 2.55 and a beta of 1.16. Broadcom Inc. has a twelve month low of $79.51 and a twelve month high of $185.16. The stock has a fifty day simple moving average of $156.94 and a 200-day simple moving average of $146.43. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same period last year, the business earned $0.95 earnings per share. Equities analysts anticipate that Broadcom Inc. will post 3.77 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.31%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 19th. Broadcom’s dividend payout ratio is 9.12%.

Wall Street Analyst Weigh In

AVGO has been the subject of several research reports. William Blair started coverage on Broadcom in a research note on Wednesday. They set an “outperform” rating for the company. Citigroup reissued a “buy” rating and issued a $156.00 price objective on shares of Broadcom in a research note on Tuesday, June 11th. Wells Fargo & Company raised their price objective on Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a report on Thursday, June 13th. Oppenheimer dropped their target price on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Finally, Melius started coverage on shares of Broadcom in a research note on Monday, June 3rd. They issued a “buy” rating and a $185.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $189.23.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the sale, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.00% of the company’s stock.

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.