Broadcom Inc. (NASDAQ:AVGO) Position Trimmed by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 108,527 shares of the semiconductor manufacturer’s stock after selling 13,247 shares during the period. Broadcom accounts for 1.1% of Dynamic Advisor Solutions LLC’s portfolio, making the stock its 15th biggest position. Dynamic Advisor Solutions LLC’s holdings in Broadcom were worth $25,161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AVGO. NCP Inc. grew its position in Broadcom by 615.4% in the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in Broadcom by 257.1% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,167 shares of the semiconductor manufacturer’s stock worth $19,535,000 after buying an additional 8,760 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Broadcom by 9.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 46,857 shares of the semiconductor manufacturer’s stock valued at $75,308,000 after acquiring an additional 4,240 shares during the period. Sunbelt Securities Inc. raised its stake in Broadcom by 1.9% during the 2nd quarter. Sunbelt Securities Inc. now owns 7,058 shares of the semiconductor manufacturer’s stock valued at $11,333,000 after acquiring an additional 129 shares in the last quarter. Finally, Wellington Wealth Strategies LLC. acquired a new position in Broadcom during the 2nd quarter worth $602,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last three months. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $202.13 on Tuesday. 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 capitalization of $947.46 billion, a price-to-earnings ratio of 164.87, a P/E/G ratio of 2.52 and a beta of 1.03. The business’s 50-day moving average is $208.80 and its 200-day moving average is $180.62. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week 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 (EPS) 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 company 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 company’s revenue was up 51.2% compared to the same quarter last year. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.17%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 192.50%.

Analyst Ratings Changes

AVGO has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Susquehanna boosted their price target 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. Piper Sandler upped their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Bank of America raised their price objective 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. Finally, Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.83.

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.