Aprio Wealth Management LLC Decreases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Aprio Wealth Management LLC trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.8% in the 4th quarter, HoldingsChannel reports. The firm owned 9,024 shares of the semiconductor manufacturer’s stock after selling 260 shares during the period. Aprio Wealth Management LLC’s holdings in Broadcom were worth $2,092,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Kiely Wealth Advisory Group Inc. acquired a new position in Broadcom in the second quarter valued at $128,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Broadcom in the 2nd quarter valued at about $136,000. Inspire Advisors LLC purchased a new position in Broadcom during the 2nd quarter worth approximately $211,000. RiverGlades Family Offices LLC purchased a new stake in Broadcom in the second quarter valued at approximately $210,000. Finally, Madison Wealth Partners Inc acquired a new stake in shares of Broadcom in the second quarter valued at approximately $221,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 2.2 %

AVGO stock opened at $224.31 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company’s 50 day simple moving average is $196.90 and its 200-day simple moving average is $175.71. Broadcom Inc. has a 12 month low of $107.45 and a 12 month high of $251.88. The firm has a market capitalization of $1.05 trillion, a PE ratio of 194.88, a P/E/G ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.05%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is 191.87%.

Analysts Set New Price Targets

AVGO has been the topic of several research reports. Mizuho raised their price objective on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday. Benchmark restated a “buy” rating and issued a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. 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. Morgan Stanley upped their price target on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Finally, Robert W. Baird boosted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three 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.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.54.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. 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.