Broadcom Inc. (NASDAQ:AVGO) is FourThought Financial Partners LLC’s 2nd Largest Position

FourThought Financial Partners LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,944 shares of the semiconductor manufacturer’s stock after selling 189 shares during the period. Broadcom comprises about 3.7% of FourThought Financial Partners LLC’s portfolio, making the stock its 2nd biggest position. FourThought Financial Partners LLC’s holdings in Broadcom were worth $35,459,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Exchange Capital Management Inc. purchased a new stake in shares of Broadcom during the fourth quarter worth $480,000. Twin Peaks Wealth Advisors LLC grew its stake in Broadcom by 15.3% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 4,401 shares of the semiconductor manufacturer’s stock worth $1,020,000 after purchasing an additional 585 shares in the last quarter. Artemis Wealth Advisors LLC increased its holdings in Broadcom by 7.1% during the 4th quarter. Artemis Wealth Advisors LLC now owns 37,500 shares of the semiconductor manufacturer’s stock worth $8,694,000 after purchasing an additional 2,500 shares during the period. EdgeRock Capital LLC raised its position in Broadcom by 6.1% in the 4th quarter. EdgeRock Capital LLC now owns 5,383 shares of the semiconductor manufacturer’s stock valued at $1,248,000 after purchasing an additional 308 shares in the last quarter. Finally, Acorn Wealth Advisors LLC boosted its stake in shares of Broadcom by 3.7% in the 4th quarter. Acorn Wealth Advisors LLC now owns 2,300 shares of the semiconductor manufacturer’s stock valued at $533,000 after buying an additional 81 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $212.94 on Thursday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The stock has a market capitalization of $998.13 billion, a price-to-earnings ratio of 173.69, a PEG ratio of 2.29 and a beta of 1.02. The company has a 50-day simple moving average of $228.28 and a 200-day simple moving average of $191.46. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period last year, the firm earned $0.98 EPS. On average, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.11%. This is a positive change 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 (DPR) is 191.87%.

Insider Buying and Selling at Broadcom

In related news, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares in the company, valued at $7,308,000. This trade 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 this link. Also, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the transaction, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AVGO shares. Barclays upped their target price 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. Truist Financial increased their price objective on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. TD Cowen lifted their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Mizuho increased their target price on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. raised their price target on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

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.