Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,128 shares of the semiconductor manufacturer’s stock after selling 82 shares during the quarter. Broadcom makes up about 1.1% of Wellington Shields & Co. LLC’s holdings, making the stock its 17th largest position. Wellington Shields & Co. LLC’s holdings in Broadcom were worth $3,507,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Midwest Professional Planners LTD. raised its stake in shares of Broadcom by 3.1% during the 4th quarter. Midwest Professional Planners LTD. now owns 48,958 shares of the semiconductor manufacturer’s stock worth $11,350,000 after buying an additional 1,466 shares during the last quarter. Analyst IMS Investment Management Services Ltd. raised its stake in shares of Broadcom by 12.6% during the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 57,842 shares of the semiconductor manufacturer’s stock worth $13,410,000 after buying an additional 6,484 shares during the last quarter. Intact Investment Management Inc. raised its stake in shares of Broadcom by 259.9% during the 4th quarter. Intact Investment Management Inc. now owns 100,100 shares of the semiconductor manufacturer’s stock worth $23,207,000 after buying an additional 72,290 shares during the last quarter. Northwest Wealth Management LLC increased its position in Broadcom by 21.5% during the 4th quarter. Northwest Wealth Management LLC now owns 1,907 shares of the semiconductor manufacturer’s stock worth $442,000 after purchasing an additional 337 shares in the last quarter. Finally, Atala Financial Inc purchased a new stake in Broadcom during the 4th quarter worth about $1,154,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $195.54 on Friday. The stock’s 50 day moving average price is $218.12 and its 200 day moving average price is $193.68. The firm has a market capitalization of $919.42 billion, a PE ratio of 159.50, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the company posted $0.98 EPS. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Wall Street Analyst Weigh In

A number of analysts recently commented on AVGO shares. KeyCorp lifted their price objective on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Barclays lifted their price objective on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Piper Sandler lifted their price objective on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Bank of America lifted their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Benchmark reiterated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $231.48.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last three months. Corporate insiders own 2.00% of the company’s stock.

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.