Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Left Brain Wealth Management LLC

Left Brain Wealth Management LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,767 shares of the semiconductor manufacturer’s stock after selling 1,931 shares during the quarter. Broadcom makes up 1.8% of Left Brain Wealth Management LLC’s portfolio, making the stock its 20th biggest position. Left Brain Wealth Management LLC’s holdings in Broadcom were worth $4,815,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northwest Wealth Management LLC boosted its stake in shares of Broadcom by 21.5% during the 4th quarter. Northwest Wealth Management LLC now owns 1,907 shares of the semiconductor manufacturer’s stock valued at $442,000 after buying an additional 337 shares during the last quarter. Atala Financial Inc acquired a new position in Broadcom during the 4th quarter worth $1,154,000. Integras Partners LLC bought a new stake in shares of Broadcom in the 4th quarter worth about $3,501,000. Madison Investment Advisors LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at about $576,000. Finally, JPL Wealth Management LLC bought a new position in shares of Broadcom during the fourth quarter worth about $13,470,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $191.36 on Friday. The company has a market capitalization of $899.76 billion, a price-to-earnings ratio of 156.09, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. 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 Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The business has a 50 day moving average price of $218.86 and a two-hundred day moving average price of $193.43.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. Research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 over the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the subject of a number of research reports. Susquehanna lifted their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. TD Cowen lifted their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $231.48.

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.