Beaumont Asset Management L.L.C. Sells 202 Shares of Broadcom Inc. (NASDAQ:AVGO)

Beaumont Asset Management L.L.C. decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,709 shares of the semiconductor manufacturer’s stock after selling 202 shares during the quarter. Broadcom makes up 1.2% of Beaumont Asset Management L.L.C.’s investment portfolio, making the stock its 19th biggest holding. Beaumont Asset Management L.L.C.’s holdings in Broadcom were worth $2,019,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. Castleview Partners LLC boosted its holdings in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its position in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the period. Retirement Wealth Solutions LLC bought a new stake in shares of Broadcom in the 4th quarter valued at $37,000. R Squared Ltd acquired a new stake in shares of Broadcom during the fourth quarter worth $39,000. Finally, JDM Financial Group LLC raised its stake in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on AVGO. Benchmark reaffirmed a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Jefferies Financial Group raised their price objective 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. Finally, TD Cowen boosted their target price on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now directly owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 4.5 %

AVGO opened at $235.04 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market capitalization of $1.10 trillion, a P/E ratio of 191.71, a PEG ratio of 2.42 and a beta of 1.02. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company’s 50-day moving average is $219.76 and its 200 day moving average is $184.56.

Broadcom (NASDAQ:AVGO) last released its earnings results 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 during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 earnings per share. Research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.00%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 192.50%.

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.