Mitchell & Pahl Private Wealth LLC Sells 1,260 Shares of Broadcom Inc. (NASDAQ:AVGO)

Mitchell & Pahl Private Wealth LLC cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 25,836 shares of the semiconductor manufacturer’s stock after selling 1,260 shares during the period. Broadcom comprises about 2.8% of Mitchell & Pahl Private Wealth LLC’s holdings, making the stock its 3rd biggest holding. Mitchell & Pahl Private Wealth LLC’s holdings in Broadcom were worth $5,990,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Disciplined Growth Investors Inc. MN acquired a new position in Broadcom in the 2nd quarter valued at $228,000. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of Broadcom during the second quarter worth $234,000. Castleview Partners LLC raised its position in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in Broadcom during the fourth quarter worth about $37,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of AVGO stock opened at $240.91 on Thursday. Broadcom Inc. has a 52 week low of $117.43 and a 52 week high of $251.88. The firm has a 50 day moving average of $204.46 and a two-hundred day moving average of $179.16. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $1.13 trillion, a PE ratio of 196.50, a P/E/G ratio of 2.48 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. On average, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 0.98%. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Insider Buying and Selling

In other Broadcom news, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last 90 days. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent research reports. Mizuho boosted their target price on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. TD Cowen boosted their price objective on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Morgan Stanley lifted their price target on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Cantor Fitzgerald upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $225.83.

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.