TFC Financial Management Inc. Decreases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

TFC Financial Management Inc. trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,193 shares of the semiconductor manufacturer’s stock after selling 60 shares during the quarter. TFC Financial Management Inc.’s holdings in Broadcom were worth $508,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Castleview Partners LLC raised its position 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 last quarter. 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 during the last quarter. JDM Financial Group LLC lifted its stake in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Broadcom during the 4th quarter worth approximately $37,000. Finally, R Squared Ltd purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $39,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was 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. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 over the last quarter. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $233.04 on Friday. 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 company has a market cap of $1.09 trillion, a price-to-earnings ratio of 190.08, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The stock’s 50-day moving average is $226.16 and its two-hundred day moving average is $187.02. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping 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 firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. Analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed 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 is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is 192.50%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AVGO. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. Benchmark reissued 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. Susquehanna raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Robert W. Baird boosted their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, UBS Group raised their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.04.

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.