Atlanta Consulting Group Advisors LLC Has $2.08 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Atlanta Consulting Group Advisors LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,961 shares of the semiconductor manufacturer’s stock after selling 676 shares during the period. Broadcom accounts for about 0.8% of Atlanta Consulting Group Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding. Atlanta Consulting Group Advisors LLC’s holdings in Broadcom were worth $2,078,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AVGO. SlateStone Wealth LLC lifted its position in Broadcom by 0.3% during the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock worth $3,207,000 after acquiring an additional 47 shares during the last quarter. GWN Securities Inc. acquired a new position in Broadcom during the 4th quarter worth $2,103,000. Van Hulzen Asset Management LLC lifted its position in Broadcom by 27.2% during the 4th quarter. Van Hulzen Asset Management LLC now owns 88,032 shares of the semiconductor manufacturer’s stock worth $20,410,000 after acquiring an additional 18,835 shares during the last quarter. Glenview Trust co lifted its position in Broadcom by 0.5% during the 4th quarter. Glenview Trust co now owns 522,296 shares of the semiconductor manufacturer’s stock worth $121,089,000 after acquiring an additional 2,524 shares during the last quarter. Finally, Harbour Investments Inc. lifted its position in Broadcom by 5.8% during the 4th quarter. Harbour Investments Inc. now owns 27,244 shares of the semiconductor manufacturer’s stock worth $6,316,000 after acquiring an additional 1,492 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 20,168 shares of the company’s 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 transaction, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AVGO. Jefferies Financial Group boosted their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Evercore ISI boosted their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Morgan Stanley boosted their price objective on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Price Performance

Shares of Broadcom stock opened at $195.54 on Monday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $919.42 billion, a price-to-earnings ratio of 159.50, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The firm’s 50-day moving average price is $218.12 and its two-hundred day moving average price is $194.16.

Broadcom (NASDAQ:AVGO) last issued 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. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. 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 earned $0.98 earnings per share. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom’s payout ratio is 113.46%.

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.