Exencial Wealth Advisors LLC Has $19.18 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Exencial Wealth Advisors LLC cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 24.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,720 shares of the semiconductor manufacturer’s stock after selling 27,245 shares during the period. Exencial Wealth Advisors LLC’s holdings in Broadcom were worth $19,178,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. raised its stake in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the period. Synergy Investment Management LLC acquired a new stake in Broadcom during the 4th quarter valued at $35,000. Retirement Wealth Solutions LLC bought a new position in Broadcom during the fourth quarter worth $37,000. Finally, R Squared Ltd acquired a new position in shares of Broadcom in the fourth quarter valued at $39,000. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AVGO. Benchmark restated a “buy” rating and set a $255.00 target price (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Morgan Stanley cut their price objective on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. JPMorgan Chase & Co. upped their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Citigroup lifted their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Three 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 company has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the business’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 sale, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Harry L. You sold 6,540 shares of the firm’s 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 transaction, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Down 6.0 %

AVGO opened at $187.37 on Tuesday. The company has a market cap of $878.27 billion, a P/E ratio of 152.83, a PEG ratio of 2.29 and a beta of 1.02. 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 company’s 50 day moving average is $226.54 and its 200-day moving average is $192.50. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for 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 quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter last year, the business posted $0.98 earnings per share. Equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 191.87%.

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.