Mcdonald Partners LLC Has $4.89 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Mcdonald Partners LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,080 shares of the semiconductor manufacturer’s stock after selling 765 shares during the quarter. Broadcom makes up 1.2% of Mcdonald Partners LLC’s holdings, making the stock its 16th biggest holding. Mcdonald Partners LLC’s holdings in Broadcom were worth $4,887,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. boosted its stake in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Broadcom in the fourth quarter worth approximately $37,000. R Squared Ltd acquired a new position in shares of Broadcom in the fourth quarter worth approximately $39,000. JDM Financial Group LLC lifted its stake in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares during the period. Finally, Asset Planning Inc acquired a new position in shares of Broadcom in the fourth quarter worth approximately $46,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 3.6 %

Shares of Broadcom stock opened at $218.61 on Friday. The stock has a fifty day simple moving average of $230.09 and a 200 day simple moving average of $189.79. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The company has a market capitalization of $1.02 trillion, a P/E ratio of 178.32, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02. 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 results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping 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 business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. Broadcom’s revenue was up 51.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.08%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 191.87%.

Insider Buying and Selling

In other Broadcom news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction 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 transaction, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on AVGO. Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. Jefferies Financial Group lifted their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Barclays lifted their price objective on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three investment 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

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.