Invera Wealth Advisors LLC Cuts Position in Broadcom Inc. (NASDAQ:AVGO)

Invera Wealth Advisors LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,464 shares of the semiconductor manufacturer’s stock after selling 701 shares during the period. Broadcom makes up approximately 2.0% of Invera Wealth Advisors LLC’s holdings, making the stock its 18th biggest holding. Invera Wealth Advisors LLC’s holdings in Broadcom were worth $2,035,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Central Pacific Bank Trust Division lifted its position in Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after purchasing an additional 3,707 shares during the last quarter. Wolff Financial Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at about $244,000. Strait & Sound Wealth Management LLC lifted its holdings in shares of Broadcom by 829.8% in the 3rd 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 during the last quarter. Catalyst Financial Partners LLC grew its position in Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after acquiring an additional 18,206 shares in the last quarter. Finally, Motive Wealth Advisors increased its stake in Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after acquiring an additional 4,209 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

AVGO stock opened at $218.61 on Friday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The business has a 50-day moving average price of $230.09 and a 200 day moving average price of $190.11. The company has a market capitalization of $1.02 trillion, a P/E ratio of 178.32, a PEG ratio of 2.37 and a beta of 1.02. 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 (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. As a group, equities research analysts forecast 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. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.08%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 192.50%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. TD Cowen raised their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note 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 research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

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 stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 directly owns 325,443 shares in the company, valued at approximately $74,728,221.66. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by corporate insiders.

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.