Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 393,628 shares of the semiconductor manufacturer’s stock after selling 22,087 shares during the quarter. Broadcom comprises 3.1% of Wesbanco Bank Inc.’s investment portfolio, making the stock its 4th biggest position. Wesbanco Bank Inc.’s holdings in Broadcom were worth $91,259,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AVGO. NCP Inc. raised its holdings in Broadcom by 615.4% in the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after buying an additional 400 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Broadcom by 257.1% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,167 shares of the semiconductor manufacturer’s stock valued at $19,535,000 after acquiring an additional 8,760 shares during the period. Legal & General Group Plc lifted its holdings in shares of Broadcom by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock worth $6,362,816,000 after acquiring an additional 83,846 shares during the last quarter. Shellback Capital LP purchased a new position in shares of Broadcom during the 2nd quarter worth approximately $60,368,000. Finally, Sender Co & Partners Inc. raised its position in Broadcom by 40.2% in the second quarter. Sender Co & Partners Inc. now owns 848 shares of the semiconductor manufacturer’s stock valued at $1,361,000 after purchasing an additional 243 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 1.8 %

Shares of Broadcom stock opened at $244.70 on Friday. The company has a fifty day simple moving average of $207.20 and a 200-day simple moving average of $180.10. Broadcom Inc. has a 12-month low of $117.43 and a 12-month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1.15 trillion, a price-to-earnings ratio of 199.59, a PEG ratio of 2.52 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last issued 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 return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the company posted $0.98 earnings per share. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 0.96%. Broadcom’s payout ratio is 192.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Cantor Fitzgerald raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Mizuho lifted their price objective on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, UBS Group increased their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.83.

Insider Buying and Selling at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the 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 sale, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by insiders.

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.