Beaumont Asset Management L.L.C. Sells 202 Shares of Broadcom Inc. (NASDAQ:AVGO)

Beaumont Asset Management L.L.C. trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,709 shares of the semiconductor manufacturer’s stock after selling 202 shares during the period. Broadcom makes up approximately 1.2% of Beaumont Asset Management L.L.C.’s investment portfolio, making the stock its 19th largest holding. Beaumont Asset Management L.L.C.’s holdings in Broadcom were worth $2,019,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. TFG Advisers LLC bought a new stake in Broadcom in the 4th quarter valued at approximately $293,000. Vest Financial LLC raised its holdings in shares of Broadcom by 38.8% in the fourth quarter. Vest Financial LLC now owns 50,059 shares of the semiconductor manufacturer’s stock valued at $11,606,000 after purchasing an additional 13,996 shares during the last quarter. Seamount Financial Group Inc. raised its holdings in shares of Broadcom by 1.7% in the fourth quarter. Seamount Financial Group Inc. now owns 6,897 shares of the semiconductor manufacturer’s stock valued at $1,599,000 after purchasing an additional 112 shares during the last quarter. Northstar Group Inc. lifted its position in shares of Broadcom by 21.6% in the fourth quarter. Northstar Group Inc. now owns 2,820 shares of the semiconductor manufacturer’s stock worth $654,000 after purchasing an additional 500 shares in the last quarter. Finally, Shepherd Financial Partners LLC boosted its holdings in Broadcom by 9.2% during the fourth quarter. Shepherd Financial Partners LLC now owns 28,631 shares of the semiconductor manufacturer’s stock worth $6,638,000 after purchasing an additional 2,412 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated 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. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred on Tuesday, December 17th. The shares were 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 $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 in the last ninety days. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

AVGO has been the topic of several analyst reports. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. 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 note on Friday, December 13th. Finally, TD Cowen raised their target price on shares of Broadcom from $210.00 to $240.00 and gave the company 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Trading Up 4.5 %

Shares of NASDAQ:AVGO opened at $235.04 on Tuesday. The business’s 50 day simple moving average is $219.76 and its 200 day simple moving average is $184.56. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. 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 has a market capitalization of $1.10 trillion, a P/E ratio of 191.71, a P/E/G ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s revenue was up 51.2% on a year-over-year basis. During the same quarter last year, the business earned $0.98 earnings per share. On average, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.00%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 192.50%.

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.