Frazier Financial Advisors LLC Cuts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Frazier Financial Advisors LLC lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 19.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 524 shares of the semiconductor manufacturer’s stock after selling 127 shares during the quarter. Frazier Financial Advisors LLC’s holdings in Broadcom were worth $124,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. KFA Private Wealth Group LLC lifted its position in shares of Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after acquiring an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA lifted its stake in shares of Broadcom by 2.7% during the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after purchasing an additional 45 shares during the period. Bryant Woods Investment Advisors LLC boosted its stake in Broadcom by 3.5% in the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after buying an additional 45 shares during the last quarter. Marest Capital LLC boosted its position in shares of Broadcom by 1.0% in the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after acquiring an additional 46 shares during the last quarter. Finally, Defined Wealth Management LLC grew its stake in shares of Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after buying an additional 47 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports 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 research report on Friday, December 13th. Citigroup increased their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Robert W. Baird boosted their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $171.99 on Friday. The company has a market cap of $808.69 billion, a P/E ratio of 140.29, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company’s fifty day moving average is $210.84 and its two-hundred day moving average is $195.72. 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 Inc. has a 12-month low of $119.76 and a 12-month high of $251.88.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.37%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insider Activity at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was 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 owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,000 shares of company stock valued at $27,334,060. Corporate insiders own 2.00% of the company’s stock.

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.