Brady Family Wealth LLC Trims Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Brady Family Wealth LLC cut its position in Broadcom Inc. (NASDAQ:AVGO) by 1.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 44,646 shares of the semiconductor manufacturer’s stock after selling 746 shares during the period. Broadcom makes up 3.2% of Brady Family Wealth LLC’s portfolio, making the stock its 4th biggest holding. Brady Family Wealth LLC’s holdings in Broadcom were worth $10,351,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AVGO. Rovin Capital UT ADV lifted its holdings in shares of Broadcom by 6.9% during the fourth quarter. Rovin Capital UT ADV now owns 5,164 shares of the semiconductor manufacturer’s stock worth $1,197,000 after purchasing an additional 335 shares during the period. Smith Thornton Advisors LLC bought a new position in Broadcom during the 4th quarter worth $246,000. Outlook Wealth Advisors LLC lifted its holdings in Broadcom by 1.8% during the 4th quarter. Outlook Wealth Advisors LLC now owns 7,938 shares of the semiconductor manufacturer’s stock worth $1,840,000 after buying an additional 141 shares during the period. Connective Portfolio Management LLC grew its position in shares of Broadcom by 60.6% in the 4th quarter. Connective Portfolio Management LLC now owns 10,920 shares of the semiconductor manufacturer’s stock valued at $2,532,000 after buying an additional 4,120 shares during the last quarter. Finally, Sagace Wealth Management LLC increased its stake in shares of Broadcom by 33.0% in the fourth quarter. Sagace Wealth Management LLC now owns 3,830 shares of the semiconductor manufacturer’s stock valued at $888,000 after buying an additional 951 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Broadcom news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. 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 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $229.41 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a 50-day moving average of $200.02 and a 200-day moving average of $177.11. Broadcom Inc. has a one year low of $109.02 and a one year high of $251.88. The company has a market cap of $1.08 trillion, a P/E ratio of 187.12, a P/E/G ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. Equities research analysts forecast 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 paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 192.50%.

Analyst Ratings Changes

Several analysts recently commented on AVGO shares. Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Robert W. Baird increased their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Barclays increased their price target on Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Finally, Piper Sandler boosted their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three research 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, the company has an average rating of “Moderate Buy” and an average target price 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.