Kingswood Wealth Advisors LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 28.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,632 shares of the semiconductor manufacturer’s stock after selling 22,126 shares during the quarter. Broadcom accounts for about 1.0% of Kingswood Wealth Advisors LLC’s holdings, making the stock its 15th biggest position. Kingswood Wealth Advisors LLC’s holdings in Broadcom were worth $12,666,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of AVGO. Castleview Partners LLC increased its position in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its stake in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. JDM Financial Group LLC increased its holdings in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in Broadcom during the fourth quarter worth about $37,000. Finally, Tsfg LLC lifted its holdings in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the stock. Truist Financial raised their price objective on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note 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 report on Friday, December 13th. Piper Sandler increased their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Morgan Stanley cut their target price on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price target on shares of Broadcom in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.
Broadcom Trading Down 0.5 %
Shares of AVGO stock opened at $206.35 on Thursday. 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 fifty-two week low of $117.43 and a fifty-two week high of $251.88. The firm’s 50 day moving average price is $210.37 and its two-hundred day moving average price is $181.05. The stock has a market cap of $967.24 billion, a price-to-earnings ratio of 168.31, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03.
Broadcom (NASDAQ:AVGO – Get Free Report) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The business’s quarterly revenue was up 51.2% on a year-over-year basis. On average, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.14%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 192.50%.
Insider Activity at Broadcom
In other Broadcom news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $229.62, for a total value of $2,886,323.40. Following the sale, the chief financial officer now owns 325,443 shares of the company’s stock, valued at $74,728,221.66. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.
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.
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