Atria Investments Inc Lowers Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Atria Investments Inc cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 274,304 shares of the semiconductor manufacturer’s stock after selling 22,810 shares during the period. Broadcom makes up 0.8% of Atria Investments Inc’s holdings, making the stock its 14th biggest holding. Atria Investments Inc’s holdings in Broadcom were worth $63,595,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. KFA Private Wealth Group LLC increased its holdings in shares of Broadcom by 2.5% in the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after acquiring an additional 42 shares during the period. Dakota Community Bank & Trust NA boosted its position in Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after purchasing an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC grew its stake in Broadcom by 3.5% in the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after purchasing an additional 45 shares during the last quarter. Marest Capital LLC raised its holdings in Broadcom by 1.0% in the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after purchasing an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC raised its holdings in Broadcom by 0.4% in the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after purchasing an additional 47 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Bank of America upped their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley lowered their price objective on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, TD Cowen upped their target price on Broadcom from $210.00 to $240.00 and gave the company 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 given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom 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 completion of the transaction, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by company insiders.

Broadcom Stock Up 0.1 %

NASDAQ:AVGO opened at $187.48 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company’s fifty day moving average price is $225.50 and its 200-day moving average price is $192.65. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The firm has a market capitalization of $878.79 billion, a P/E ratio of 152.92, a PEG ratio of 2.29 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. As a group, equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current 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 given a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

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.