ORG Partners LLC Decreases Stake in Broadcom Inc. (NASDAQ:AVGO)

ORG Partners LLC cut its position in Broadcom Inc. (NASDAQ:AVGO) by 3.1% during the fourth quarter, HoldingsChannel reports. The firm owned 5,968 shares of the semiconductor manufacturer’s stock after selling 193 shares during the quarter. ORG Partners LLC’s holdings in Broadcom were worth $1,385,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kiely Wealth Advisory Group Inc. purchased a new position in Broadcom in the second quarter valued at $128,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Broadcom during the 2nd quarter worth about $136,000. WPWealth LLP acquired a new stake in shares of Broadcom during the 2nd quarter worth about $204,000. AIMZ Investment Advisors LLC purchased a new stake in Broadcom during the second quarter worth approximately $207,000. Finally, Inspire Advisors LLC acquired a new position in Broadcom in the second quarter valued at approximately $211,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of Broadcom stock traded down $4.60 during trading on Friday, reaching $224.71. The company’s stock had a trading volume of 7,590,068 shares, compared to its average volume of 23,586,682. The business has a 50 day moving average price of $195.79 and a 200-day moving average price of $175.31. Broadcom Inc. has a 12-month low of $107.45 and a 12-month high of $251.88. The company has a market capitalization of $1.05 trillion, a P/E ratio of 195.23, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the company posted $0.98 EPS. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Insider Transactions at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 187,278 shares of company stock valued at $44,046,240 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AVGO shares. Barclays boosted their price objective on shares of Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Benchmark reissued a “buy” rating and issued a $255.00 price target (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. William Blair initiated coverage on Broadcom in a research report on Wednesday, September 18th. They set an “outperform” rating on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. Finally, Piper Sandler lifted their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $221.88.

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.