Broadcom Inc. (NASDAQ:AVGO) Shares Sold by West Paces Advisors Inc.

West Paces Advisors Inc. cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,883 shares of the semiconductor manufacturer’s stock after selling 131 shares during the quarter. Broadcom makes up approximately 0.6% of West Paces Advisors Inc.’s holdings, making the stock its 25th largest holding. West Paces Advisors Inc.’s holdings in Broadcom were worth $2,102,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in AVGO. Macroview Investment Management LLC acquired a new stake in Broadcom during the third quarter worth about $29,000. BKM Wealth Management LLC bought a new position in Broadcom during the 4th quarter worth $29,000. CKW Financial Group acquired a new stake in Broadcom in the fourth quarter worth $30,000. Indiana Trust & Investment Management CO bought a new stake in Broadcom in the third quarter valued at $32,000. Finally, VitalStone Financial LLC boosted its holdings in shares of Broadcom by 71.4% during the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock valued at $40,000 after acquiring an additional 25 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Up 1.4 %

AVGO traded up $18.37 during trading on Tuesday, reaching $1,329.06. 1,845,697 shares of the company’s stock were exchanged, compared to its average volume of 2,960,397. The company’s fifty day moving average price is $1,304.36 and its 200-day moving average price is $1,110.50. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The firm has a market capitalization of $615.91 billion, a PE ratio of 48.76, a P/E/G ratio of 2.74 and a beta of 1.25. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter last year, the firm earned $9.83 EPS. As a group, equities analysts forecast that Broadcom Inc. will post 35.95 EPS for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AVGO shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Evercore ISI began coverage on Broadcom in a research report on Tuesday. They issued an “outperform” rating and a $1,620.00 target price for the company. Susquehanna boosted their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Finally, Oppenheimer restated an “outperform” rating and issued a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $1,281.09.

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.