Paces Ferry Wealth Advisors LLC Lowers Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Paces Ferry Wealth Advisors LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,074 shares of the semiconductor manufacturer’s stock after selling 282 shares during the period. Paces Ferry Wealth Advisors LLC’s holdings in Broadcom were worth $1,176,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. Hill Island Financial LLC boosted its position in shares of Broadcom by 8.9% in the fourth quarter. Hill Island Financial LLC now owns 3,464 shares of the semiconductor manufacturer’s stock worth $803,000 after acquiring an additional 282 shares during the last quarter. Samalin Investment Counsel LLC boosted its holdings in shares of Broadcom by 1.0% in the 4th quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer’s stock valued at $1,155,000 after purchasing an additional 50 shares during the last quarter. Banco de Sabadell S.A grew its stake in shares of Broadcom by 1.7% during the 4th quarter. Banco de Sabadell S.A now owns 25,107 shares of the semiconductor manufacturer’s stock valued at $5,818,000 after buying an additional 425 shares during the period. Blueprint Investment Partners LLC increased its holdings in shares of Broadcom by 8.1% during the 4th quarter. Blueprint Investment Partners LLC now owns 21,529 shares of the semiconductor manufacturer’s stock worth $4,991,000 after buying an additional 1,621 shares during the last quarter. Finally, Swan Global Investments LLC purchased a new position in shares of Broadcom in the 4th quarter worth $351,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Morgan Stanley increased their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. William Blair reissued an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Jefferies Financial Group lifted their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Trading Up 0.6 %

NASDAQ:AVGO opened at $191.66 on Friday. The stock has a fifty day simple moving average of $214.38 and a 200 day simple moving average of $195.08. The firm has a market capitalization of $901.18 billion, a price-to-earnings ratio of 156.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,168 shares of company stock worth $40,508,877 over the last 90 days. 2.00% of the stock is owned by company insiders.

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.