Perfromance Wealth Partners LLC Sells 4,649 Shares of Broadcom Inc. (NASDAQ:AVGO)

Perfromance Wealth Partners LLC reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 136,929 shares of the semiconductor manufacturer’s stock after selling 4,649 shares during the quarter. Broadcom accounts for about 1.0% of Perfromance Wealth Partners LLC’s investment portfolio, making the stock its 16th largest position. Perfromance Wealth Partners LLC’s holdings in Broadcom were worth $31,746,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Castleview Partners LLC increased its stake in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. boosted its holdings in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. JDM Financial Group LLC boosted its holdings in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $37,000. Finally, Tsfg LLC boosted its holdings in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the firm’s 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 transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.3 %

Shares of NASDAQ:AVGO opened at $240.28 on Friday. Broadcom Inc. has a 52-week low of $117.43 and a 52-week high of $251.88. The firm has a market capitalization of $1.13 trillion, a P/E ratio of 195.99, a P/E/G ratio of 2.51 and a beta of 1.03. The stock has a 50 day moving average price of $205.81 and a 200-day moving average price of $179.64. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The business’s revenue was up 51.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 0.98%. 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 192.50%.

Analysts Set New Price Targets

AVGO has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Benchmark reiterated a “buy” rating and issued a $255.00 price objective (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. TD Cowen increased their target price on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Three investment 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, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $225.83.

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.