Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 94.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,237 shares of the semiconductor manufacturer’s stock after selling 426,965 shares during the period. Wealthfront Advisers LLC’s holdings in Broadcom were worth $5,619,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Pin Oak Investment Advisors Inc. grew its holdings in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Canton Hathaway LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $26,000. JDM Financial Group LLC grew its holdings in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Up 2.2 %

AVGO stock opened at $194.23 on Thursday. The company has a fifty day moving average price of $219.67 and a 200 day moving average price of $193.45. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a market cap of $913.26 billion, a price-to-earnings ratio of 158.43, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. Sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.22%. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Buying and Selling at Broadcom

In other news, Director Harry L. You sold 6,540 shares of the company’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. This represents a 17.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on AVGO. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Robert W. Baird boosted their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Morgan Stanley boosted their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Mizuho lowered their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $231.48.

Broadcom 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.