44 Wealth Management LLC Decreases Holdings in Broadcom Inc. (NASDAQ:AVGO)

44 Wealth Management LLC reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,484 shares of the semiconductor manufacturer’s stock after selling 752 shares during the period. Broadcom makes up about 0.9% of 44 Wealth Management LLC’s investment portfolio, making the stock its 29th biggest position. 44 Wealth Management LLC’s holdings in Broadcom were worth $2,431,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Callan Capital LLC lifted its stake in shares of Broadcom by 2.6% in the 4th quarter. Callan Capital LLC now owns 14,858 shares of the semiconductor manufacturer’s stock worth $3,445,000 after purchasing an additional 380 shares during the period. Redmond Asset Management LLC purchased a new stake in Broadcom during the fourth quarter valued at approximately $1,250,000. Oxbow Advisors LLC raised its position in Broadcom by 0.7% in the fourth quarter. Oxbow Advisors LLC now owns 10,790 shares of the semiconductor manufacturer’s stock worth $2,502,000 after acquiring an additional 72 shares during the period. Navellier & Associates Inc. boosted its stake in shares of Broadcom by 17.0% during the 4th quarter. Navellier & Associates Inc. now owns 18,486 shares of the semiconductor manufacturer’s stock worth $4,286,000 after acquiring an additional 2,690 shares during the last quarter. Finally, Prentice Wealth Management LLC grew its position in shares of Broadcom by 2.2% during the 4th quarter. Prentice Wealth Management LLC now owns 6,502 shares of the semiconductor manufacturer’s stock valued at $1,507,000 after acquiring an additional 143 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 4.9 %

Shares of AVGO opened at $207.93 on Tuesday. The stock has a market capitalization of $974.64 billion, a PE ratio of 169.60, a P/E/G ratio of 2.37 and a beta of 1.02. The company’s fifty day moving average is $229.25 and its 200 day moving average is $190.93. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week 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 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 firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the firm posted $0.98 EPS. The business’s quarterly revenue was up 51.2% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.13%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. Jefferies Financial Group raised their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. UBS Group raised their price objective on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Robert W. Baird boosted their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Evercore ISI upped their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction 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 sale, the director now owns 46,400 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Also, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the sale, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.

Broadcom 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.