Broadcom Inc. (NASDAQ:AVGO) Shares Sold by MA Private Wealth

MA Private Wealth reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,341 shares of the semiconductor manufacturer’s stock after selling 59 shares during the period. MA Private Wealth’s holdings in Broadcom were worth $543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVGO. State Street Corp increased its stake in shares of Broadcom by 948.5% in the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after buying an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after buying an additional 89,975,941 shares during the last quarter. FMR LLC increased its stake in shares of Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after buying an additional 82,998,328 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after buying an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Broadcom by 975.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after buying an additional 30,674,902 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO stock opened at $222.43 on Wednesday. The company has a market capitalization of $1.04 trillion, a P/E ratio of 181.43, a PEG ratio of 2.31 and a beta of 1.02. The company has a 50-day simple moving average of $214.47 and a 200 day simple moving average of $182.60. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. 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 issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the company earned $0.98 EPS. Broadcom’s revenue was up 51.2% on a year-over-year basis. Sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.06%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were 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 approximately $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at $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. In the last three months, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AVGO shares. UBS Group lifted their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Citigroup boosted their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Barclays boosted their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.