Argonautica Private Wealth Management Inc. Reduces Stake in Broadcom Inc. (NASDAQ:AVGO)

Argonautica Private Wealth Management Inc. lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,024 shares of the semiconductor manufacturer’s stock after selling 301 shares during the period. Broadcom comprises approximately 3.2% of Argonautica Private Wealth Management Inc.’s investment portfolio, making the stock its 5th largest holding. Argonautica Private Wealth Management Inc.’s holdings in Broadcom were worth $9,975,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fjell Capital LLC bought a new stake in Broadcom during the fourth quarter worth about $2,385,000. Advisor OS LLC increased its position in Broadcom by 12.6% during the fourth quarter. Advisor OS LLC now owns 15,806 shares of the semiconductor manufacturer’s stock worth $3,664,000 after buying an additional 1,763 shares during the last quarter. GraniteShares Advisors LLC acquired a new position in Broadcom during the fourth quarter worth approximately $4,181,000. Denali Advisors LLC increased its position in Broadcom by 14.6% during the fourth quarter. Denali Advisors LLC now owns 61,406 shares of the semiconductor manufacturer’s stock worth $14,236,000 after buying an additional 7,825 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its position in Broadcom by 57.8% during the fourth quarter. Lake Street Advisors Group LLC now owns 108,354 shares of the semiconductor manufacturer’s stock worth $25,121,000 after buying an additional 39,680 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the 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 $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last three months. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Mizuho boosted their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Evercore ISI boosted their price target on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Benchmark reissued a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, Piper Sandler boosted their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Trading Down 7.1 %

Shares of NASDAQ:AVGO opened at $197.80 on Friday. The company has a market capitalization of $927.16 billion, a P/E ratio of 161.34, a P/E/G ratio of 2.29 and a beta of 1.02. 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 business’s 50 day simple moving average is $227.87 and its 200 day simple moving average is $191.51.

Broadcom (NASDAQ:AVGO) last released its 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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The company’s quarterly revenue was up 51.2% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.19%. Broadcom’s dividend payout ratio is presently 191.87%.

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.