Woodley Farra Manion Portfolio Management Inc. Has $100.81 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Woodley Farra Manion Portfolio Management Inc. cut its position in Broadcom Inc. (NASDAQ:AVGO) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 434,830 shares of the semiconductor manufacturer’s stock after selling 2,812 shares during the quarter. Broadcom comprises about 5.0% of Woodley Farra Manion Portfolio Management Inc.’s holdings, making the stock its 2nd largest position. Woodley Farra Manion Portfolio Management Inc.’s holdings in Broadcom were worth $100,811,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Canton Hathaway LLC purchased a new position in Broadcom in the 4th quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. boosted 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 acquiring an additional 135 shares during the period. Retirement Wealth Solutions LLC bought a new position in shares of Broadcom in the fourth quarter worth $37,000. R Squared Ltd purchased a new position in shares of Broadcom in the fourth quarter valued at $39,000. Finally, JDM Financial Group LLC raised its stake in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Down 6.0 %

AVGO opened at $187.37 on Tuesday. The firm has a market capitalization of $878.27 billion, a price-to-earnings ratio of 152.83, a PEG ratio of 2.29 and a beta of 1.02. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The business has a 50 day simple moving average of $226.54 and a two-hundred day simple moving average of $192.50. 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 released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share 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 analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 earnings per share. Analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 annualized dividend and a yield of 1.26%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AVGO shares. Morgan Stanley reduced their target price on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Piper Sandler boosted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Jefferies Financial Group upped their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Robert W. Baird raised their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

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.