Arkadios Wealth Advisors Sells 3,795 Shares of Broadcom Inc. (NASDAQ:AVGO)

Arkadios Wealth Advisors decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.6% during the fourth quarter, HoldingsChannel reports. The firm owned 53,897 shares of the semiconductor manufacturer’s stock after selling 3,795 shares during the period. Broadcom comprises 0.7% of Arkadios Wealth Advisors’ portfolio, making the stock its 22nd largest holding. Arkadios Wealth Advisors’ holdings in Broadcom were worth $12,495,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. NCP Inc. lifted its stake in shares of Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of Broadcom by 20.5% during the second quarter. AE Wealth Management LLC now owns 4,681 shares of the semiconductor manufacturer’s stock valued at $7,515,000 after buying an additional 797 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Broadcom by 2,948.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,452 shares of the semiconductor manufacturer’s stock valued at $23,204,000 after buying an additional 13,978 shares in the last quarter. Kowal Investment Group LLC grew its position in shares of Broadcom by 16.4% in the 2nd quarter. Kowal Investment Group LLC now owns 989 shares of the semiconductor manufacturer’s stock worth $1,588,000 after buying an additional 139 shares during the last quarter. Finally, Circle Wealth Management LLC raised its stake in shares of Broadcom by 109.9% during the 2nd quarter. Circle Wealth Management LLC now owns 1,146 shares of the semiconductor manufacturer’s stock worth $1,840,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Citigroup upped their target price on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Barclays raised their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America upped their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Morgan Stanley increased their price objective on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $225.83.

Insider Buying and Selling at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now directly owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last quarter. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Up 3.5 %

Shares of AVGO stock opened at $237.44 on Monday. The stock has a 50 day simple moving average of $202.01 and a 200-day simple moving average of $178.14. Broadcom Inc. has a 1-year low of $112.19 and a 1-year high of $251.88. The company has a market cap of $1.11 trillion, a price-to-earnings ratio of 193.67, a PEG ratio of 2.35 and a beta of 1.03. 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 (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s revenue was up 51.2% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. On average, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.99%. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is 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.