Broadcom Inc. (NASDAQ:AVGO) is Woodmont Investment Counsel LLC’s 9th Largest Position

Woodmont Investment Counsel LLC lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,885 shares of the semiconductor manufacturer’s stock after selling 4,482 shares during the period. Broadcom comprises about 2.3% of Woodmont Investment Counsel LLC’s holdings, making the stock its 9th largest holding. Woodmont Investment Counsel LLC’s holdings in Broadcom were worth $30,576,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. KFA Private Wealth Group LLC raised its holdings in Broadcom by 2.5% in the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after acquiring an additional 42 shares during the last quarter. Dakota Community Bank & Trust NA raised its stake in shares of Broadcom by 2.7% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after purchasing an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC lifted its holdings in shares of Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after purchasing an additional 45 shares in the last quarter. Marest Capital LLC boosted its position in shares of Broadcom by 1.0% during the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after buying an additional 46 shares during the last quarter. Finally, Defined Wealth Management LLC increased its holdings in Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after buying an additional 47 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research analyst reports. TD Cowen upped their target price on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Susquehanna raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Piper Sandler lifted their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. William Blair reissued an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Finally, Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 157,168 shares of company stock valued at $37,108,677 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $191.66 on Monday. The stock has a market cap of $901.18 billion, a PE ratio of 156.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm has a fifty day moving average price of $214.38 and a 200-day moving average price of $195.37. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. Broadcom’s payout ratio is presently 113.46%.

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.