Kiley Juergens Wealth Management LLC Sells 1,000 Shares of Broadcom Inc. (NASDAQ:AVGO)

Kiley Juergens Wealth Management LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 56,853 shares of the semiconductor manufacturer’s stock after selling 1,000 shares during the period. Broadcom makes up approximately 3.3% of Kiley Juergens Wealth Management LLC’s portfolio, making the stock its 11th biggest holding. Kiley Juergens Wealth Management LLC’s holdings in Broadcom were worth $13,181,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division grew its position in Broadcom by 21.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares in the last quarter. AXA S.A. boosted its stake in shares of Broadcom by 2.7% in the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after buying an additional 7,608 shares during the last quarter. Strait & Sound Wealth Management LLC grew its holdings in shares of Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after acquiring an additional 7,095 shares in the last quarter. Catalyst Financial Partners LLC increased its position in shares of Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after acquiring an additional 18,206 shares during the last quarter. Finally, Whittier Trust Co. lifted its holdings in Broadcom by 947.2% during the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock worth $119,000,000 after acquiring an additional 623,983 shares during the period. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AVGO has been the subject of several research analyst reports. Jefferies Financial Group raised their target price on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Robert W. Baird boosted their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Benchmark reissued a “buy” rating and set a $255.00 target price (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, 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 report on Monday, November 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $225.83.

Insider Buying and Selling at Broadcom

In related news, Director Harry L. You sold 6,540 shares of the company’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 completion of the transaction, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 in the company, valued at $74,728,221.66. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 over the last three months. 2.00% of the stock is owned by insiders.

Broadcom Stock Up 0.2 %

Shares of NASDAQ:AVGO opened at $240.91 on Thursday. The firm has a fifty day moving average price of $204.46 and a two-hundred day moving average price of $179.16. The company has a market cap of $1.13 trillion, a price-to-earnings ratio of 196.50, a PEG ratio of 2.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a one year low of $117.43 and a one year high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the company earned $0.98 earnings per share. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. Analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

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.