Bar Harbor Wealth Management Has $531,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Bar Harbor Wealth Management reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 44.1% in the 4th quarter, Holdings Channel reports. The firm owned 2,292 shares of the semiconductor manufacturer’s stock after selling 1,805 shares during the period. Bar Harbor Wealth Management’s holdings in Broadcom were worth $531,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division boosted its holdings in shares of Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after buying an additional 3,707 shares during the period. AXA S.A. boosted its holdings in Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after acquiring an additional 7,608 shares during the period. Strait & Sound Wealth Management LLC grew its position in shares of Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after purchasing an additional 7,095 shares during the last quarter. Catalyst Financial Partners LLC increased its stake in shares of Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares during the period. Finally, Whittier Trust Co. lifted its position in shares of Broadcom by 947.2% during the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock worth $119,000,000 after purchasing an additional 623,983 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 0.4 %

Shares of AVGO opened at $225.29 on Tuesday. The stock has a fifty day moving average price of $198.03 and a two-hundred day moving average price of $176.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market cap of $1.06 trillion, a price-to-earnings ratio of 195.73, a PEG ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 52-week low of $109.02 and a 52-week high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 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 analyst estimates of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The company’s revenue was up 51.2% on a year-over-year basis. Analysts predict that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

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

Analyst Ratings Changes

A number of analysts have issued reports on the company. Cantor Fitzgerald raised their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Truist Financial boosted their target price on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Piper Sandler boosted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Mizuho increased their target price on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $223.54.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,278 shares of company stock worth $44,964,800. 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.