Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 77.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,327 shares of the semiconductor manufacturer’s stock after selling 4,451 shares during the quarter. Whalen Wealth Management Inc.’s holdings in Broadcom were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dakota Community Bank & Trust NA increased its holdings in shares of Broadcom by 2.7% in the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after acquiring an additional 45 shares during the last quarter. Defined Wealth Management LLC boosted its holdings in Broadcom by 0.4% in the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after purchasing an additional 47 shares during the period. Integrated Investment Consultants LLC increased its stake in Broadcom by 0.9% during the fourth quarter. Integrated Investment Consultants LLC now owns 5,392 shares of the semiconductor manufacturer’s stock valued at $1,250,000 after purchasing an additional 47 shares during the last quarter. Kades & Cheifetz LLC raised its holdings in shares of Broadcom by 0.8% during the fourth quarter. Kades & Cheifetz LLC now owns 6,623 shares of the semiconductor manufacturer’s stock worth $1,536,000 after purchasing an additional 51 shares during the period. Finally, Sivia Capital Partners LLC lifted its position in shares of Broadcom by 0.5% in the 4th quarter. Sivia Capital Partners LLC now owns 9,584 shares of the semiconductor manufacturer’s stock worth $2,222,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $244.70 on Friday. Broadcom Inc. has a 1 year low of $117.43 and a 1 year high of $251.88. The firm has a market cap of $1.15 trillion, a P/E ratio of 199.59, a PEG ratio of 2.52 and a beta of 1.03. The stock has a fifty day moving average price of $208.80 and a two-hundred day moving average price of $180.62. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating 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 business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the business posted $0.98 earnings per share. The company’s quarterly revenue was up 51.2% on a year-over-year basis. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is presently 192.50%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AVGO shares. UBS Group increased their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Citigroup boosted their price objective on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Bank of America increased their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Piper Sandler boosted their price target on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $225.83.

Insider Activity at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the sale, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. The trade was a 69.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 over the last ninety days. Insiders own 2.00% of the company’s stock.

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.