Wedmont Private Capital Has $11.27 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Wedmont Private Capital lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.6% during the 4th quarter, HoldingsChannel reports. The fund owned 50,228 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,816 shares during the period. Wedmont Private Capital’s holdings in Broadcom were worth $11,267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Westmount Partners LLC grew its holdings in shares of Broadcom by 0.6% during the fourth quarter. Westmount Partners LLC now owns 48,419 shares of the semiconductor manufacturer’s stock worth $11,225,000 after purchasing an additional 290 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in Broadcom by 5.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 28,740 shares of the semiconductor manufacturer’s stock worth $6,663,000 after buying an additional 1,604 shares during the period. New Capital Management LP bought a new stake in Broadcom during the 4th quarter worth approximately $429,000. Asset Allocation & Management Company LLC increased its position in Broadcom by 57.3% in the 4th quarter. Asset Allocation & Management Company LLC now owns 7,190 shares of the semiconductor manufacturer’s stock valued at $1,667,000 after acquiring an additional 2,620 shares during the period. Finally, CHICAGO TRUST Co NA raised its stake in shares of Broadcom by 6.3% during the fourth quarter. CHICAGO TRUST Co NA now owns 20,512 shares of the semiconductor manufacturer’s stock valued at $4,756,000 after acquiring an additional 1,211 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This trade represents a 5.07 % 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 on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This trade represents 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 valued at $44,964,800. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AVGO. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. Susquehanna upped their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. raised their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Cantor Fitzgerald upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, William Blair began coverage on shares of Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $223.54.

Broadcom Stock Performance

Broadcom stock traded up $1.32 during mid-day trading on Monday, reaching $225.63. The company’s stock had a trading volume of 13,307,774 shares, compared to its average volume of 24,554,156. The firm’s fifty day moving average price is $196.90 and its two-hundred day moving average price is $175.71. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 12-month low of $109.02 and a 12-month high of $251.88. The company has a market capitalization of $1.06 trillion, a P/E ratio of 196.03, a PEG ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. Sell-side analysts predict that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. Broadcom’s dividend payout ratio is 191.87%.

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.