Herold Advisors Inc. Decreases Position in Broadcom Inc. (NASDAQ:AVGO)

Herold Advisors Inc. cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,567 shares of the semiconductor manufacturer’s stock after selling 50 shares during the quarter. Herold Advisors Inc.’s holdings in Broadcom were worth $1,750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. PSI Advisors LLC lifted its stake in Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares in the last quarter. Macroview Investment Management LLC purchased a new position in Broadcom in the 3rd quarter worth approximately $29,000. BKM Wealth Management LLC purchased a new position in Broadcom in the 4th quarter worth approximately $29,000. CKW Financial Group purchased a new position in Broadcom in the 4th quarter worth approximately $30,000. Finally, Bfsg LLC purchased a new position in Broadcom in the 4th quarter worth approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Justine Page sold 110 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on AVGO shares. Evercore ISI started coverage on shares of Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Cantor Fitzgerald lifted their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Performance

NASDAQ:AVGO opened at $1,344.07 on Friday. The company has a fifty day simple moving average of $1,306.70 and a two-hundred day simple moving average of $1,134.07. The company has a market cap of $622.87 billion, a price-to-earnings ratio of 49.82, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.83 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.56%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Broadcom Company 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.