Marietta Wealth Management LLC Has $15.54 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Marietta Wealth Management LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 67,025 shares of the semiconductor manufacturer’s stock after selling 1,033 shares during the quarter. Broadcom comprises 2.2% of Marietta Wealth Management LLC’s holdings, making the stock its 10th biggest holding. Marietta Wealth Management LLC’s holdings in Broadcom were worth $15,539,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its position in shares of Broadcom by 948.5% in the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after buying an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC raised its position in Broadcom by 976.6% during the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares in the last quarter. FMR LLC increased its holdings in shares of Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after buying an additional 82,998,328 shares during the period. Jennison Associates LLC increased its holdings in shares of Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after buying an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Broadcom by 975.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after buying an additional 30,674,902 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Down 1.6 %

Shares of Broadcom stock opened at $217.73 on Tuesday. The company has a market capitalization of $1.02 trillion, a P/E ratio of 177.60, a P/E/G ratio of 2.31 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a fifty day moving average of $213.41 and a 200 day moving average of $182.20. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue was up 51.2% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 191.87%.

Insider Activity

In other news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % 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 worth $44,964,800. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AVGO shares. Morgan Stanley cut their target price on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Jefferies Financial Group lifted their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. UBS Group boosted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

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.