Crestmont Private Wealth LLC Trims Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Crestmont Private Wealth LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,222 shares of the semiconductor manufacturer’s stock after selling 417 shares during the quarter. Crestmont Private Wealth LLC’s holdings in Broadcom were worth $515,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Castleview Partners LLC grew its stake in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its position in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. JDM Financial Group LLC increased its holdings in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the last quarter. Tsfg LLC raised its position in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 204 shares in the last quarter. Finally, Cedar Wealth Management LLC boosted its holdings in Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 216 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. TD Cowen increased their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Bank of America upped their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. UBS Group increased their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Jefferies Financial Group boosted their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $223.54.

Broadcom Stock Performance

AVGO stock opened at $228.00 on Thursday. The firm has a 50 day moving average of $199.05 and a two-hundred day moving average of $176.63. Broadcom Inc. has a 12 month low of $109.02 and a 12 month high of $251.88. The company has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 198.09, a P/E/G 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 issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) 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 firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the company posted $0.98 earnings per share. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. As a group, equities analysts anticipate that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is 191.87%.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Company 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.