Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,725 shares of the semiconductor manufacturer’s stock after selling 424 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Broadcom were worth $3,646,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Pin Oak Investment Advisors Inc. raised its holdings in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the period. JDM Financial Group LLC raised its holdings in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the period. Retirement Wealth Solutions LLC acquired a new position in Broadcom in the 4th quarter worth about $37,000. R Squared Ltd acquired a new position in Broadcom in the 4th quarter worth about $39,000. Finally, Cedar Wealth Management LLC raised its holdings in Broadcom by 900.0% in the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction on 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 directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Harry L. You sold 6,540 shares of the firm’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 transaction, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % 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 worth $44,964,800 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on AVGO shares. Bank of America boosted their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. 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. JPMorgan Chase & Co. boosted their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Barclays boosted their price objective on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Benchmark reiterated a “buy” rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Trading Down 4.9 %

AVGO opened at $207.93 on Tuesday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The stock has a market capitalization of $974.64 billion, a PE ratio of 169.60, a P/E/G ratio of 2.37 and a beta of 1.02. The business’s 50 day moving average price is $229.25 and its 200 day moving average price is $190.93. 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 released its quarterly earnings data 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 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.13%. Broadcom’s dividend payout ratio is currently 192.50%.

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.