SeaCrest Wealth Management LLC Sells 1,542 Shares of Broadcom Inc. (NASDAQ:AVGO)

SeaCrest Wealth Management LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,873 shares of the semiconductor manufacturer’s stock after selling 1,542 shares during the quarter. Broadcom makes up about 2.0% of SeaCrest Wealth Management LLC’s investment portfolio, making the stock its 7th largest position. SeaCrest Wealth Management LLC’s holdings in Broadcom were worth $19,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Kiely Wealth Advisory Group Inc. acquired a new stake in Broadcom in the 2nd quarter valued at $128,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Broadcom in the 2nd quarter valued at $136,000. RiverGlades Family Offices LLC acquired a new stake in Broadcom in the 2nd quarter valued at $210,000. Disciplined Growth Investors Inc. MN acquired a new stake in Broadcom in the 2nd quarter valued at $228,000. Finally, Security National Bank of Sioux City Iowa IA acquired a new stake in Broadcom in the 2nd quarter valued at $234,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was 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 directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % 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 Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 1.5 %

AVGO stock opened at $228.00 on Thursday. 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 stock has a market capitalization of $1.07 trillion, a P/E ratio of 198.09, a P/E/G ratio of 2.15 and a beta of 1.03. The business has a 50-day moving average of $199.05 and a 200-day moving average of $176.63. Broadcom Inc. has a fifty-two week low of $109.02 and a fifty-two week high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. On average, sell-side analysts anticipate that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 191.87%.

Wall Street Analyst Weigh In

A number of research firms have commented on AVGO. Morgan Stanley boosted their price objective on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Mizuho boosted their price objective on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. William Blair began coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Evercore ISI boosted their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Benchmark reissued 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. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $223.54.

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.