Wealth Architects LLC Sells 1,888 Shares of Broadcom Inc. (NASDAQ:AVGO)

Wealth Architects LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,517 shares of the semiconductor manufacturer’s stock after selling 1,888 shares during the period. Wealth Architects LLC’s holdings in Broadcom were worth $5,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Central Pacific Bank Trust Division grew its holdings in Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares during the last quarter. Wolff Financial Management LLC acquired a new stake in Broadcom in the 4th quarter worth approximately $244,000. Strait & Sound Wealth Management LLC grew its position in Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares during the last quarter. Motive Wealth Advisors lifted its stake in shares of Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after buying an additional 4,209 shares during the period. Finally, Tidal Investments LLC grew its holdings in shares of Broadcom by 969.3% during the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock valued at $66,696,000 after buying an additional 350,485 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Truist Financial raised their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Finally, Citigroup upped their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Up 2.2 %

Shares of NASDAQ:AVGO opened at $195.54 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 $919.42 billion, a P/E ratio of 159.50, a PEG ratio of 2.29 and a beta of 1.01. The business has a fifty day moving average of $218.12 and a two-hundred day moving average of $194.16. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the business earned $0.98 earnings per share. Broadcom’s revenue was up 51.2% compared to the same quarter last year. On average, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom’s dividend payout ratio is currently 113.46%.

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.