Broadcom Inc. (NASDAQ:AVGO) Stake Trimmed by Watershed Private Wealth LLC

Watershed Private Wealth LLC cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,909 shares of the semiconductor manufacturer’s stock after selling 175 shares during the period. Watershed Private Wealth LLC’s holdings in Broadcom were worth $674,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division boosted its stake in Broadcom by 21.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares during the period. Wolff Financial Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at $244,000. Strait & Sound Wealth Management LLC boosted its position in shares of Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after buying an additional 7,095 shares during the period. Catalyst Financial Partners LLC grew its holdings in shares of Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after buying an additional 18,206 shares in the last quarter. Finally, Motive Wealth Advisors raised its position in Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after buying an additional 4,209 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Up 2.6 %

AVGO opened at $221.27 on Friday. The business has a 50 day moving average of $212.27 and a 200-day moving average of $181.58. The stock has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 180.48, a P/E/G ratio of 2.16 and a beta of 1.03. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its quarterly 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 for 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 business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.07%. Broadcom’s dividend payout ratio is 192.50%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Benchmark reiterated a “buy” rating and issued a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Robert W. Baird boosted their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Evercore ISI increased their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Insiders Place Their Bets

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was 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 directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. This represents a 29.80 % 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. 2.00% of the stock is currently owned by company insiders.

About Broadcom

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.