Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Bernardo Wealth Planning LLC

Bernardo Wealth Planning LLC cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 10.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,322 shares of the semiconductor manufacturer’s stock after selling 258 shares during the period. Bernardo Wealth Planning LLC’s holdings in Broadcom were worth $521,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Disciplined Growth Investors Inc. MN acquired a new position in Broadcom during the second quarter worth $228,000. Security National Bank of Sioux City Iowa IA acquired a new position in Broadcom during the second quarter worth $234,000. Castleview Partners LLC lifted its stake in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in Broadcom during the fourth quarter worth $37,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of AVGO opened at $237.44 on Tuesday. Broadcom Inc. has a twelve month low of $112.19 and a twelve month high of $251.88. The stock’s 50 day moving average is $202.01 and its two-hundred day moving average is $178.14. The firm has a market capitalization of $1.11 trillion, a PE ratio of 193.67, a P/E/G ratio of 2.35 and a beta of 1.03. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data 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 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 analyst estimates of $14.07 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed 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 0.99%. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 192.50%.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now owns 696,730 shares of the company’s stock, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. upped their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. TD Cowen upped their price objective on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Jefferies Financial Group upped their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” 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 company. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $225.83.

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.