Redwood Wealth Management Group LLC Reduces Stake in Broadcom Inc. (NASDAQ:AVGO)

Redwood Wealth Management Group LLC reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 28.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,201 shares of the semiconductor manufacturer’s stock after selling 4,829 shares during the quarter. Broadcom makes up approximately 1.4% of Redwood Wealth Management Group LLC’s investment portfolio, making the stock its 17th largest position. Redwood Wealth Management Group LLC’s holdings in Broadcom were worth $2,831,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. KFA Private Wealth Group LLC lifted its stake in Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after acquiring an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA lifted its stake in Broadcom by 2.7% during the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after acquiring an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC lifted its stake in Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after acquiring an additional 45 shares in the last quarter. Marest Capital LLC lifted its stake in Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after acquiring an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC lifted its stake in Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after acquiring an additional 47 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Down 2.8 %

NASDAQ:AVGO opened at $224.87 on Friday. The stock’s 50 day moving average price is $218.50 and its 200 day moving average price is $183.74. The company has a market capitalization of $1.05 trillion, a PE ratio of 183.42, a P/E/G ratio of 2.31 and a beta of 1.02. 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 52-week low of $119.76 and a 52-week high of $251.88.

Broadcom (NASDAQ:AVGO) last announced 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 return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the business posted $0.98 EPS. The company’s revenue was up 51.2% on a year-over-year basis. On average, research 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. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AVGO. UBS Group increased their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Benchmark reaffirmed a “buy” rating and issued a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, Susquehanna increased their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % 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 insiders.

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.