TCI Wealth Advisors Inc. Sells 505 Shares of Broadcom Inc. (NASDAQ:AVGO)

TCI Wealth Advisors Inc. decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,340 shares of the semiconductor manufacturer’s stock after selling 505 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Broadcom were worth $1,238,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hamilton Point Investment Advisors LLC increased its holdings in Broadcom by 7.2% in the 4th quarter. Hamilton Point Investment Advisors LLC now owns 1,823 shares of the semiconductor manufacturer’s stock worth $423,000 after buying an additional 122 shares in the last quarter. Powers Advisory Group LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at about $254,000. Narus Financial Partners LLC grew its stake in shares of Broadcom by 65.6% in the fourth quarter. Narus Financial Partners LLC now owns 3,677 shares of the semiconductor manufacturer’s stock worth $852,000 after acquiring an additional 1,457 shares during the period. AA Financial Advisors LLC lifted its position in Broadcom by 2.7% during the fourth quarter. AA Financial Advisors LLC now owns 17,266 shares of the semiconductor manufacturer’s stock valued at $4,003,000 after purchasing an additional 454 shares during the period. Finally, Evernest Financial Advisors LLC lifted its position in Broadcom by 54.2% during the fourth quarter. Evernest Financial Advisors LLC now owns 8,531 shares of the semiconductor manufacturer’s stock valued at $1,978,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 2.6 %

Shares of Broadcom stock opened at $221.27 on Monday. 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 firm has a market cap of $1.04 trillion, a price-to-earnings ratio of 180.48, a PEG ratio of 2.16 and a beta of 1.03. Broadcom Inc. has a twelve month low of $117.43 and a twelve month high of $251.88. The business has a 50-day moving average price of $213.41 and a 200-day moving average price of $182.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. Equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.07%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the 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 owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 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.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AVGO shares. UBS Group boosted their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Truist Financial upped their price objective on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Jefferies Financial Group increased their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Barclays boosted their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

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.