1900 Wealth Management LLC Reduces Holdings in Broadcom Inc. (NASDAQ:AVGO)

1900 Wealth Management LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 599 shares of the semiconductor manufacturer’s stock after selling 73 shares during the period. 1900 Wealth Management LLC’s holdings in Broadcom were worth $669,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Pathway Financial Advisors LLC grew its position in Broadcom by 11.1% in the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after acquiring an additional 93 shares in the last quarter. RMR Wealth Builders grew its position in shares of Broadcom by 6.5% in the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after acquiring an additional 388 shares in the last quarter. Czech National Bank raised its stake in Broadcom by 46.1% during the 3rd quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock valued at $59,909,000 after acquiring an additional 22,774 shares in the last quarter. Alpha Omega Wealth Management LLC raised its position in shares of Broadcom by 66.6% during the fourth quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock worth $4,756,000 after purchasing an additional 1,704 shares during the period. Finally, CI Investments Inc. grew its stake in Broadcom by 89.4% in the third quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock valued at $114,221,000 after purchasing an additional 64,912 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AVGO shares. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. Cantor Fitzgerald raised their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Finally, The Goldman Sachs Group restated a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research report on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Transactions at Broadcom

In other 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 transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a filing with the SEC, which is available 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 sale, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

AVGO traded up $24.20 during trading on Tuesday, hitting $1,248.66. The company’s stock had a trading volume of 583,826 shares, compared to its average volume of 2,931,483. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $578.65 billion, a price-to-earnings ratio of 46.21, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25. The firm’s 50 day moving average price is $1,304.30 and its two-hundred day moving average price is $1,125.79. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.83 earnings per share. Sell-side analysts forecast that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.68%. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

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.