Lutz Financial Services LLC Has $261,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Lutz Financial Services LLC cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 16.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,126 shares of the semiconductor manufacturer’s stock after selling 228 shares during the quarter. Lutz Financial Services LLC’s holdings in Broadcom were worth $261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AVGO. Pin Oak Investment Advisors Inc. raised its stake in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares during the period. JDM Financial Group LLC boosted its position in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Broadcom during the fourth quarter worth $37,000. R Squared Ltd bought a new position in shares of Broadcom in the 4th quarter valued at about $39,000. Finally, Cedar Wealth Management LLC grew its stake in Broadcom by 900.0% in the third 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. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. TD Cowen lifted their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Jefferies Financial Group upped their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Morgan Stanley dropped their price objective on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Barclays upped their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Truist Financial raised their price objective on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Stock Performance

NASDAQ:AVGO opened at $207.93 on Tuesday. The firm has a market capitalization of $974.64 billion, a P/E ratio of 169.60, a P/E/G ratio of 2.37 and a beta of 1.02. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a fifty day moving average of $229.25 and a 200-day moving average of $190.93. 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 (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm 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 company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. As a group, sell-side analysts anticipate 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. 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 yield of 1.13%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio 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.