Ferguson Wellman Capital Management Inc. Sells 12,261 Shares of Broadcom Inc. (NASDAQ:AVGO)

Ferguson Wellman Capital Management Inc. cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 809,455 shares of the semiconductor manufacturer’s stock after selling 12,261 shares during the quarter. Broadcom accounts for about 3.6% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 5th largest holding. Ferguson Wellman Capital Management Inc.’s holdings in Broadcom were worth $187,664,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Elevate Capital Advisors LLC purchased a new stake in Broadcom in the 4th quarter worth approximately $306,000. Savant Capital LLC raised its position in shares of Broadcom by 17.5% in the fourth quarter. Savant Capital LLC now owns 64,126 shares of the semiconductor manufacturer’s stock worth $14,867,000 after acquiring an additional 9,559 shares during the period. Burns Matteson Capital Management LLC boosted its stake in shares of Broadcom by 34.7% during the 4th quarter. Burns Matteson Capital Management LLC now owns 2,415 shares of the semiconductor manufacturer’s stock worth $560,000 after acquiring an additional 622 shares in the last quarter. Wagner Wealth Management LLC grew its position in shares of Broadcom by 2.0% during the 4th quarter. Wagner Wealth Management LLC now owns 8,077 shares of the semiconductor manufacturer’s stock valued at $1,873,000 after acquiring an additional 158 shares during the period. Finally, Harbour Trust & Investment Management Co increased its stake in shares of Broadcom by 14.7% in the 4th quarter. Harbour Trust & Investment Management Co now owns 1,852 shares of the semiconductor manufacturer’s stock valued at $429,000 after purchasing an additional 237 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of AVGO stock opened at $236.35 on Thursday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm’s 50 day moving average price is $222.47 and its 200-day moving average price is $185.75. The firm has a market cap of $1.11 trillion, a P/E ratio of 192.78, a P/E/G ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping 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 28.00% and a net margin of 11.43%. The company’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the business posted $0.98 earnings per share. As a group, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared 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. 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 dividend on an annualized basis and a yield of 1.00%. Broadcom’s dividend payout ratio is 192.50%.

Insider Transactions at Broadcom

In other Broadcom news, 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 sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. This represents a 29.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Evercore ISI lifted their price target on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Jefferies Financial Group boosted their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.