Avior Wealth Management LLC Sells 959 Shares of Broadcom Inc. (NASDAQ:AVGO)

Avior Wealth Management LLC reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,160 shares of the semiconductor manufacturer’s stock after selling 959 shares during the quarter. Avior Wealth Management LLC’s holdings in Broadcom were worth $5,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beacon Investment Advisory Services Inc. lifted its stake in shares of Broadcom by 0.9% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 107,502 shares of the semiconductor manufacturer’s stock valued at $24,923,000 after buying an additional 942 shares in the last quarter. Endeavor Private Wealth Inc. bought a new stake in Broadcom during the fourth quarter valued at about $95,000. Burr Financial Services LLC purchased a new position in shares of Broadcom in the fourth quarter valued at about $5,573,000. MinichMacGregor Wealth Management LLC boosted its stake in shares of Broadcom by 37.2% in the fourth quarter. MinichMacGregor Wealth Management LLC now owns 1,635 shares of the semiconductor manufacturer’s stock worth $379,000 after acquiring an additional 443 shares during the period. Finally, D.B. Root & Company LLC grew its position in shares of Broadcom by 3.6% during the fourth quarter. D.B. Root & Company LLC now owns 5,525 shares of the semiconductor manufacturer’s stock worth $1,281,000 after purchasing an additional 191 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Up 1.8 %

Shares of NASDAQ AVGO opened at $244.70 on Friday. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company 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. The business’s 50 day moving average price is $208.80 and its 200-day moving average price is $180.62.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business 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. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 192.50%.

Analysts Set New Price Targets

A number of research analysts recently commented on AVGO shares. Citigroup boosted their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Benchmark reissued a “buy” rating and issued a $255.00 target price (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Susquehanna raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Morgan Stanley boosted their price target on shares of Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Finally, UBS Group lifted their target price on 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $225.83.

Insiders Place Their Bets

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last three months. Corporate insiders own 2.00% of the company’s stock.

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.