Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Rooted Wealth Advisors Inc.

Rooted Wealth Advisors Inc. trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 17.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,466 shares of the semiconductor manufacturer’s stock after selling 528 shares during the period. Rooted Wealth Advisors Inc.’s holdings in Broadcom were worth $564,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in Broadcom by 948.5% during the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC boosted its stake in Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after acquiring an additional 89,975,941 shares during the last quarter. FMR LLC boosted its stake in Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after acquiring an additional 82,998,328 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Broadcom by 842.4% in the 3rd 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Broadcom by 975.4% in the 3rd 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 last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AVGO. Jefferies Financial Group lifted their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Piper Sandler lifted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Truist Financial lifted their price objective on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. TD Cowen lifted their price objective 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. Finally, Bank of America raised their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Stock Performance

AVGO stock opened at $233.04 on Monday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock has a market cap of $1.09 trillion, a P/E ratio of 190.08, a P/E/G ratio of 2.42 and a beta of 1.02. 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 firm has a 50 day simple moving average of $226.16 and a 200 day simple moving average of $187.33.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced 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 was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.01%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 191.87%.

Insider Buying and Selling

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by company insiders.

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.