Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Nvwm LLC

Nvwm LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,186 shares of the semiconductor manufacturer’s stock after selling 1,803 shares during the quarter. Broadcom accounts for approximately 1.4% of Nvwm LLC’s portfolio, making the stock its 12th largest holding. Nvwm LLC’s holdings in Broadcom were worth $5,607,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AMF Tjanstepension AB lifted its position in shares of Broadcom by 856.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock valued at $175,101,000 after buying an additional 908,585 shares in the last quarter. Alpha Financial Partners LLC purchased a new position in shares of Broadcom during the 3rd quarter valued at approximately $404,000. Hexagon Capital Partners LLC lifted its position in shares of Broadcom by 861.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 1,644 shares of the semiconductor manufacturer’s stock valued at $284,000 after buying an additional 1,473 shares in the last quarter. Wealth Group Ltd. lifted its position in shares of Broadcom by 900.0% during the 3rd quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock valued at $304,000 after buying an additional 1,584 shares in the last quarter. Finally, A. D. Beadell Investment Counsel Inc. purchased a new position in shares of Broadcom during the 3rd quarter valued at approximately $492,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related 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 transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Citigroup lifted their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Susquehanna lifted their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. 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. Bank of America lifted 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. Finally, Mizuho lifted their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Stock Performance

Shares of AVGO opened at $224.87 on Friday. The stock has a 50-day simple moving average of $218.50 and a 200-day simple moving average of $183.74. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market capitalization of $1.05 trillion, a PE ratio of 183.42, a PEG ratio of 2.31 and a beta of 1.02. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate 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 firm’s revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 earnings per share. On average, analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal 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 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 yield of 1.05%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 191.87%.

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.