Ascent Wealth Partners LLC Sells 285 Shares of Broadcom Inc. (NASDAQ:AVGO)

Ascent Wealth Partners LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,777 shares of the semiconductor manufacturer’s stock after selling 285 shares during the period. Ascent Wealth Partners LLC’s holdings in Broadcom were worth $6,904,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Pin Oak Investment Advisors Inc. boosted its holdings in Broadcom by 900.0% in the third 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 raised its position in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the period. Retirement Wealth Solutions LLC bought a new position in shares of Broadcom in the 4th quarter worth $37,000. R Squared Ltd acquired a new stake in Broadcom in the 4th quarter valued at $39,000. Finally, Cedar Wealth Management LLC increased its stake in Broadcom by 900.0% during the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 216 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the firm’s 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 of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley dropped their price objective on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Citigroup raised their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Benchmark reissued a “buy” rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Susquehanna raised their target price on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Finally, TD Cowen lifted their target price on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Trading Down 4.9 %

NASDAQ:AVGO opened at $207.93 on Tuesday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm’s 50 day moving average is $229.25 and its 200 day moving average is $190.93. The stock has a market capitalization of $974.64 billion, a PE ratio of 169.60, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The business’s revenue was up 51.2% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current 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 given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

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.