Fulcrum Capital LLC Sells 435 Shares of Broadcom Inc. (NASDAQ:AVGO)

Fulcrum Capital LLC cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,465 shares of the semiconductor manufacturer’s stock after selling 435 shares during the period. Fulcrum Capital LLC’s holdings in Broadcom were worth $571,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Broadcom during the second quarter worth about $128,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Broadcom during the second quarter worth about $136,000. Inspire Advisors LLC purchased a new position in shares of Broadcom during the second quarter worth about $211,000. RiverGlades Family Offices LLC purchased a new position in shares of Broadcom during the second quarter worth about $210,000. Finally, Madison Wealth Partners Inc purchased a new position in shares of Broadcom during the second quarter worth about $221,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Shares of Broadcom stock opened at $225.29 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $1.06 trillion, a P/E ratio of 195.73, a P/E/G ratio of 2.15 and a beta of 1.03. The business has a fifty day simple moving average of $198.03 and a two-hundred day simple moving average of $176.17. Broadcom Inc. has a 12 month low of $109.02 and a 12 month high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. On average, equities analysts forecast that Broadcom Inc. will post 3.79 earnings per share 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 given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.05%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Truist Financial upped their target price on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Evercore ISI increased their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. TD Cowen increased their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, UBS Group increased their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $223.54.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction dated 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 owns 842,836 shares of the company’s stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction dated 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by company insiders.

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.