Crossmark Global Holdings Inc.'s Investment Update on Broadcom Inc.

Crossmark Global Holdings Inc. has recently reduced its ownership in Broadcom Inc. (NASDAQ:AVGO) by 27.3% in the fourth quarter, as indicated in its latest filing with the SEC. After selling 124,766 shares during this period, the institutional investor now holds 331,872 shares of the semiconductor giant. Broadcom makes up about 1.4% of Crossmark Global Holdings Inc.'s total portfolio, positioning it as the firm's sixth largest investment. As per the most recent SEC documentation, Crossmark's investment in Broadcom is valued at approximately $76,941,000.

Investors Adjust Their Holdings

Other institutional investors have also made significant changes to their positions in Broadcom lately. Notably, Castleview Partners LLC increased its stake in Broadcom by an astounding 1,030.8% in the third quarter, now holding 147 shares worth around $25,000 after acquiring an additional 134 shares. Similarly, Pin Oak Investment Advisors Inc. raised its holdings by 900.0%, owning 150 shares valued at $25,000 following a purchase of 135 additional shares in the last quarter. JDM Financial Group LLC’s investments surged by 1,323.1%, bringing its total to 185 shares valued at $32,000 after acquiring 172 shares during the same period. Retirement Wealth Solutions LLC also entered the picture by acquiring a new stake in Broadcom worth $37,000 in the fourth quarter. Furthermore, Tsfg LLC expanded its holdings in Broadcom by 1,073.7%, owning 223 shares now worth about $38,000 after adding 204 shares. Overall, institutional investors and hedge funds collectively hold 76.43% of Broadcom's stock.

Insider Transactions at Broadcom

In recent insider trading news, Director Harry L. You sold 6,540 shares of the company on December 17, totaling approximately $1,569,600 at an average price of $240.00 per share, leading to a 17.68% reduction in the director's holdings. He now owns 30,450 shares valued at $7,308,000. Similarly, CFO Kirsten M. Spears sold 12,570 shares on December 20 for about $2,886,323.40 at an average price of $229.62, resulting in a 3.72% decrease in her holdings, leaving her with 325,443 shares valued at around $74,728,221.66. Over the last ninety days, insiders sold 191,278 shares valued at nearly $44,964,800, holding an overall 2.00% stake in the company.

Analysts Maintain Growth Outlook

Broadcom has been under the scrutiny of various analysts recently. Barclays revised its price target for Broadcom from $205.00 to $260.00 and assigned an ‘overweight’ rating. Bank of America also elevated its price target from $215.00 to $250.00, giving the stock a ‘buy’ rating. Benchmark set a price target of $255.00, up from a previous $210.00, while Cantor Fitzgerald increased its price objective from $200.00 to $225.00, also rating the stock ‘overweight’. Additionally, Rosenblatt Securities maintained a ‘buy’ rating with a target price of $240.00. Overall, out of three analysts, there was one ‘hold’ rating and twenty-four ‘buy’ recommendations. As per MarketBeat, Broadcom enjoys a consensus rating of ‘Moderate Buy’ with an average price target of $225.83.

Broadcom Stock Performance

Broadcom's stock opened at $240.91 recently, with key financial ratios illustrating a quick ratio of 1.07, a current ratio of 1.17, and a debt-to-equity ratio of 0.98. It boasts a market capitalization of $1.13 trillion, a price-to-earnings ratio of 196.50, and a P/E/G ratio of 2.48, with a beta of 1.03. The stock saw a 12-month low of $117.43 and a high of $251.88. When Broadcom last announced its quarterly earnings on December 12, it reported an EPS of $1.42, surpassing consensus estimates by $0.03. Despite revenue of $14.05 billion for the quarter being slightly below analyst expectations, it marked a remarkable 51.2% increase year-over-year compared to the previous quarter.

Dividend Increase Announcement

Broadcom also declared a quarterly dividend recently, paid out on December 31, rewarding shareholders $0.59 per share, with a record date of December 23. This brings the annualized dividend to $2.36 and results in a dividend yield of 0.98%. This marks an increase from the previous dividend of $0.53, although the dividend payout ratio stands quite high at 192.50%.

About Broadcom Inc.

Broadcom Inc. specializes in designing, developing, and supplying a range of semiconductor products globally, focusing primarily on complex digital and mixed signal complementary metal oxide semiconductor-based devices along with analog products.

investment, stocks, dividend