Measured Wealth Private Client Group LLC Cuts Position in Broadcom Inc. (NASDAQ:AVGO)

Measured Wealth Private Client Group LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 27.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,114 shares of the semiconductor manufacturer’s stock after selling 4,946 shares during the period. Broadcom comprises about 1.0% of Measured Wealth Private Client Group LLC’s holdings, making the stock its 20th largest holding. Measured Wealth Private Client Group LLC’s holdings in Broadcom were worth $3,040,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in shares of Broadcom by 948.5% in the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after acquiring an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the period. FMR LLC grew its stake in Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after purchasing an additional 82,998,328 shares in the last quarter. Jennison Associates LLC increased its holdings in Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after purchasing an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVGO has been the subject of a number of analyst reports. Truist Financial boosted their price objective on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Robert W. Baird increased their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Mizuho lifted their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $225.04.

Insiders Place Their Bets

In other Broadcom news, Director Harry L. You sold 6,540 shares of the stock in a transaction dated 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 completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The shares were 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. The trade was a 5.90 % decrease in their ownership of the stock. 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 corporate insiders.

Broadcom Stock Down 2.8 %

Shares of NASDAQ:AVGO opened at $224.87 on Monday. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm’s 50-day simple moving average is $219.76 and its 200-day simple moving average is $184.32. The company has a market cap of $1.05 trillion, a price-to-earnings ratio of 183.42, a PEG ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the previous year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 192.50%.

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.