Net Worth Advisory Group Sells 2,188 Shares of Broadcom Inc. (NASDAQ:AVGO)

Net Worth Advisory Group decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 32.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,581 shares of the semiconductor manufacturer’s stock after selling 2,188 shares during the quarter. Net Worth Advisory Group’s holdings in Broadcom were worth $1,062,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dearborn Partners LLC grew its stake in shares of Broadcom by 0.8% during the 4th quarter. Dearborn Partners LLC now owns 6,593 shares of the semiconductor manufacturer’s stock worth $1,529,000 after acquiring an additional 53 shares during the period. Riverbend Wealth Management LLC bought a new position in shares of Broadcom during the 4th quarter worth $2,345,000. Parker Investment Management LLC grew its stake in shares of Broadcom by 1.1% during the 4th quarter. Parker Investment Management LLC now owns 25,835 shares of the semiconductor manufacturer’s stock worth $5,990,000 after acquiring an additional 285 shares during the period. Davis R M Inc. grew its stake in shares of Broadcom by 2.7% during the 4th quarter. Davis R M Inc. now owns 14,639 shares of the semiconductor manufacturer’s stock worth $3,394,000 after acquiring an additional 385 shares during the period. Finally, Clare Market Investments LLC bought a new position in shares of Broadcom during the 4th quarter worth $2,543,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $184.45 on Tuesday. The stock has a market cap of $867.27 billion, a price-to-earnings ratio of 150.45, a P/E/G ratio of 2.29 and a beta of 1.01. 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 Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The stock’s 50-day moving average is $221.26 and its 200 day moving average is $193.28.

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. 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 for the quarter was up 51.2% compared to the same quarter last year. During the same period last year, the firm posted $0.98 EPS. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.28%. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research note on Friday. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday. TD Cowen raised their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Citigroup raised their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, 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 have sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Company insiders own 2.00% of the company’s stock.

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.