Broadcom Inc. (NASDAQ:AVGO) Holdings Cut by Segment Wealth Management LLC

Segment Wealth Management LLC lowered its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 203,343 shares of the semiconductor manufacturer’s stock after selling 5,002 shares during the quarter. Broadcom makes up about 3.2% of Segment Wealth Management LLC’s investment portfolio, making the stock its 3rd largest holding. Segment Wealth Management LLC’s holdings in Broadcom were worth $47,143,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Castleview Partners LLC boosted its holdings in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. boosted its stake in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. JDM Financial Group LLC grew its holdings in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the period. Retirement Wealth Solutions LLC bought a new position in shares of Broadcom during the fourth quarter valued at approximately $37,000. Finally, Tsfg LLC lifted its holdings in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO opened at $240.91 on Thursday. The business has a 50-day simple moving average of $204.46 and a two-hundred day simple 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. Broadcom Inc. has a 52 week low of $117.43 and a 52 week high of $251.88. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 196.50, a PEG 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. On average, analysts expect that Broadcom Inc. will post 5.38 EPS for the current 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. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 0.98%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 192.50%.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent research reports. Bank of America upped their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Morgan Stanley increased their price objective on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Citigroup raised their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Truist Financial upped their target price on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.83.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom 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 sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. 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.