Facet Wealth Inc. Lowers Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Facet Wealth Inc. reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.2% during the 4th quarter, HoldingsChannel reports. The firm owned 3,579 shares of the semiconductor manufacturer’s stock after selling 119 shares during the period. Facet Wealth Inc.’s holdings in Broadcom were worth $805,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of AVGO. Pin Oak Investment Advisors Inc. grew its stake in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Canton Hathaway LLC purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $26,000. JDM Financial Group LLC grew its stake in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the last quarter. Finally, Bellevue Asset Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $33,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Up 2.2 %

Shares of NASDAQ:AVGO opened at $195.54 on Friday. 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 $119.76 and a 52-week high of $251.88. The stock’s fifty day simple moving average is $218.12 and its 200-day simple moving average is $193.91. The company has a market capitalization of $919.42 billion, a P/E ratio of 159.50, a P/E/G ratio of 2.29 and a beta of 1.01.

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

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.21%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insider Buying and Selling

In related news, Director Harry L. You sold 6,540 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Jefferies Financial Group lifted their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. KeyCorp lifted their price target on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Finally, Evercore ISI lifted their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned 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 price target of $231.48.

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.