Brandywine Oak Private Wealth LLC Reduces Holdings in Broadcom Inc. (NASDAQ:AVGO)

Brandywine Oak Private Wealth LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,865 shares of the semiconductor manufacturer’s stock after selling 84 shares during the period. Brandywine Oak Private Wealth LLC’s holdings in Broadcom were worth $2,082,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in shares of Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after purchasing an additional 3,324,288 shares during the period. Wellington Management Group LLP grew its holdings in shares of Broadcom by 43.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after purchasing an additional 1,228,755 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Broadcom during the 3rd quarter worth $560,563,000. FMR LLC grew its holdings in shares of Broadcom by 16.7% during the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after purchasing an additional 573,826 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Broadcom by 19.1% during the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after purchasing an additional 514,120 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the sale, the insider now directly owns 46,974 shares in the company, valued at $61,957,296.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. JPMorgan Chase & Co. restated an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and raised their target price for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Finally, Cantor Fitzgerald increased their price target on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Stock Performance

Shares of AVGO stock traded down $31.08 during midday trading on Wednesday, hitting $1,269.19. The company had a trading volume of 468,771 shares, compared to its average volume of 2,877,778. The company’s 50 day simple moving average is $1,310.04 and its 200 day simple moving average is $1,143.82. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The stock has a market cap of $588.17 billion, a price-to-earnings ratio of 47.07, a PEG ratio of 2.72 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the previous year, the business earned $9.83 earnings per share. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. Research analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.65%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.