Atria Wealth Solutions Inc. Sells 18,990 Shares of Broadcom Inc. (NASDAQ:AVGO)

Atria Wealth Solutions Inc. lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,217 shares of the semiconductor manufacturer’s stock after selling 18,990 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Broadcom were worth $35,290,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. grew its holdings in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Broadcom in the 4th quarter valued at about $37,000. R Squared Ltd bought a new position in Broadcom in the 4th quarter worth about $39,000. JDM Financial Group LLC increased its position in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares during the period. Finally, Asset Planning Inc purchased a new position in shares of Broadcom during the fourth quarter worth approximately $46,000. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on AVGO shares. Mizuho increased their price objective on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Barclays increased their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Evercore ISI lifted their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Benchmark reissued a “buy” rating and set a $255.00 target price (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 over the last three months. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Down 0.8 %

NASDAQ:AVGO opened at $226.89 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a market cap of $1.06 trillion, a PE ratio of 185.06, a P/E/G ratio of 2.39 and a beta of 1.02. The company’s 50 day moving average is $230.21 and its two-hundred day moving average is $189.26.

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. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. Analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.04%. 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.