Fonville Wealth Management LLC Sells 664 Shares of Broadcom Inc. (NASDAQ:AVGO)

Fonville Wealth Management LLC trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 29.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,600 shares of the semiconductor manufacturer’s stock after selling 664 shares during the quarter. Fonville Wealth Management LLC’s holdings in Broadcom were worth $371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AVGO. Castleview Partners LLC boosted its stake in shares of 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 buying an additional 134 shares during the period. Pin Oak Investment Advisors Inc. raised its holdings 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 in the last quarter. JDM Financial Group LLC lifted its position in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in shares of Broadcom during the 4th quarter worth $37,000. Finally, Tsfg LLC increased its position in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TD Cowen increased their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Benchmark reiterated 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. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Susquehanna raised their target price on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group boosted their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Trading Up 0.6 %

NASDAQ AVGO opened at $236.35 on Thursday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. 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 firm has a market capitalization of $1.11 trillion, a PE ratio of 192.78, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The business’s 50-day moving average price is $222.47 and its two-hundred day moving average price is $185.75.

Broadcom (NASDAQ:AVGO) last released 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 business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. On average, analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

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

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.

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.