Broadcom Inc. (NASDAQ:AVGO) Shares Sold by WealthShield Partners LLC

WealthShield Partners LLC decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,416 shares of the semiconductor manufacturer’s stock after selling 1,302 shares during the period. WealthShield Partners LLC’s holdings in Broadcom were worth $3,806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Waverton Investment Management Ltd increased its position in Broadcom by 69.0% during the fourth quarter. Waverton Investment Management Ltd now owns 2,180 shares of the semiconductor manufacturer’s stock worth $505,000 after purchasing an additional 890 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in Broadcom by 1.2% during the fourth quarter. Capital Advisors Ltd. LLC now owns 6,866 shares of the semiconductor manufacturer’s stock worth $1,592,000 after buying an additional 83 shares during the period. Midwest Capital Advisors LLC purchased a new stake in Broadcom during the fourth quarter worth approximately $209,000. Colonial River Investments LLC grew its stake in Broadcom by 8.6% during the fourth quarter. Colonial River Investments LLC now owns 13,864 shares of the semiconductor manufacturer’s stock worth $3,214,000 after buying an additional 1,099 shares during the period. Finally, Birchcreek Wealth Management LLC grew its stake in Broadcom by 63.9% during the fourth quarter. Birchcreek Wealth Management LLC now owns 2,258 shares of the semiconductor manufacturer’s stock worth $523,000 after buying an additional 880 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Down 2.6 %

NASDAQ AVGO opened at $202.54 on Wednesday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market capitalization of $949.38 billion, a price-to-earnings ratio of 165.21, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The company’s fifty day moving average price is $228.49 and its two-hundred day moving average price is $191.31.

Broadcom (NASDAQ:AVGO) last issued its 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. The company had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. As a group, research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.17%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is 191.87%.

Insiders Place Their Bets

In other Broadcom news, Director Harry L. You sold 6,540 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AVGO shares. Barclays boosted their price objective on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Bank of America boosted their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. TD Cowen boosted their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Piper Sandler upped their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.04.

About Broadcom

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.