Broadcom Inc. (NASDAQ:AVGO) Stake Reduced by Weil Company Inc.

Weil Company Inc. reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 17.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,920 shares of the semiconductor manufacturer’s stock after selling 630 shares during the quarter. Weil Company Inc.’s holdings in Broadcom were worth $677,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Advisor OS LLC grew its stake in Broadcom by 12.6% during the 4th quarter. Advisor OS LLC now owns 15,806 shares of the semiconductor manufacturer’s stock worth $3,664,000 after buying an additional 1,763 shares during the last quarter. GraniteShares Advisors LLC bought a new position in Broadcom during the 4th quarter worth $4,181,000. Denali Advisors LLC grew its stake in Broadcom by 14.6% during the 4th quarter. Denali Advisors LLC now owns 61,406 shares of the semiconductor manufacturer’s stock worth $14,236,000 after buying an additional 7,825 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in Broadcom by 57.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 108,354 shares of the semiconductor manufacturer’s stock worth $25,121,000 after buying an additional 39,680 shares during the last quarter. Finally, Kirtland Hills Capital Management LLC boosted its position in Broadcom by 30.7% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 4,420 shares of the semiconductor manufacturer’s stock worth $1,025,000 after acquiring an additional 1,037 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 7.1 %

Shares of Broadcom stock opened at $197.80 on Friday. The stock has a 50-day moving average price of $227.87 and a 200 day moving average price of $191.51. The company has a market cap of $927.16 billion, a P/E ratio of 161.34, a P/E/G ratio of 2.29 and a beta of 1.02. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results 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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the business earned $0.98 EPS. The business’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.19%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction dated 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on AVGO shares. Truist Financial boosted their price target on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Evercore ISI boosted their price target on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. boosted their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Bank of America boosted their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.