Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Atticus Wealth Management LLC

Atticus Wealth Management LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,305 shares of the semiconductor manufacturer’s stock after selling 57 shares during the period. Atticus Wealth Management LLC’s holdings in Broadcom were worth $534,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dakota Community Bank & Trust NA increased its holdings in Broadcom by 2.7% during the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after acquiring an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC increased its stake in shares of Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after purchasing an additional 45 shares in the last quarter. Defined Wealth Management LLC raised its position in shares of Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after purchasing an additional 47 shares during the last quarter. Integrated Investment Consultants LLC lifted its stake in Broadcom by 0.9% in the 4th quarter. Integrated Investment Consultants LLC now owns 5,392 shares of the semiconductor manufacturer’s stock valued at $1,250,000 after buying an additional 47 shares in the last quarter. Finally, Register Financial Advisors LLC grew its holdings in Broadcom by 1.3% during the 4th quarter. Register Financial Advisors LLC now owns 3,693 shares of the semiconductor manufacturer’s stock valued at $856,000 after buying an additional 47 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AVGO shares. Mizuho upped their price objective on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Evercore ISI upped their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Barclays lifted their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. Finally, TD Cowen lifted their target price on shares of Broadcom from $210.00 to $240.00 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Stock Performance

Broadcom stock opened at $206.35 on Thursday. 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 $117.43 and a one year high of $251.88. The stock’s 50 day moving average price is $210.37 and its 200 day moving average price is $181.05. The firm has a market capitalization of $967.24 billion, a PE ratio of 168.31, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid 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 dividend yield of 1.14%. Broadcom’s payout ratio is 192.50%.

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.