Broadcom Inc. (NASDAQ:AVGO) is Hamlin Capital Management LLC's Largest Position

Hamlin Capital Management LLC lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,240,540 shares of the semiconductor manufacturer's stock after selling 196,385 shares during the period. Broadcom accounts for approximately 7.1% of Hamlin Capital Management LLC's investment portfolio, making the stock its biggest holding. Hamlin Capital Management LLC's holdings in Broadcom were worth $287,607,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AVGO. Central Pacific Bank Trust Division boosted its position in shares of Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock worth $4,858,000 after acquiring an additional 3,707 shares in the last quarter. AXA S.A. boosted its holdings in shares of Broadcom by 2.7% in the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock valued at $467,334,000 after purchasing an additional 7,608 shares in the last quarter. Strait & Sound Wealth Management LLC boosted its holdings in shares of Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock valued at $1,371,000 after purchasing an additional 7,095 shares in the last quarter. Catalyst Financial Partners LLC boosted its holdings in shares of Broadcom by 943.3% in the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock valued at $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in shares of Broadcom by 947.2% in the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock valued at $119,000,000 after purchasing an additional 623,983 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Down 0.3 %

Shares of AVGO traded down $0.63 on Thursday, reaching $240.28. The company's stock had a trading volume of 17,620,364 shares, compared to its average volume of 25,395,383. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $117.43 and a twelve month high of $251.88. The stock has a market capitalization of $1.13 trillion, a PE ratio of 195.99, a PEG ratio of 2.51 and a beta of 1.03. The firm has a fifty day moving average of $205.81 and a 200-day moving average of $179.64.

Broadcom (NASDAQ:AVGO - Get Free Report) 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. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom's quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. Equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is currently 192.50%.

Insider Activity

In other news, Director Harry L. You sold 6,540 shares of the firm's 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 sale, the director now directly owns 30,450 shares of the company's stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of the firm's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the sale, the chief financial officer now owns 325,443 shares of the company's stock, valued at $74,728,221.66. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 over the last quarter. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Piper Sandler raised their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Evercore ISI lifted their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Barclays lifted their target price on shares of Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Bank of America lifted their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Finally, Morgan Stanley lifted their target price on Broadcom from $233.00 to $265.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $225.83.

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.