Exencial Wealth Advisors LLC Sells 27,245 Shares of Broadcom Inc. (NASDAQ:AVGO)

Exencial Wealth Advisors LLC reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 24.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,720 shares of the semiconductor manufacturer’s stock after selling 27,245 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in Broadcom were worth $19,178,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of AVGO. Synergy Investment Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at about $35,000. Patten Group Inc. grew its stake in Broadcom by 7.5% during the fourth quarter. Patten Group Inc. now owns 38,167 shares of the semiconductor manufacturer’s stock worth $8,849,000 after purchasing an additional 2,652 shares during the period. Alta Capital Management LLC increased its holdings in Broadcom by 95.7% in the fourth quarter. Alta Capital Management LLC now owns 68,778 shares of the semiconductor manufacturer’s stock worth $15,946,000 after purchasing an additional 33,637 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Broadcom by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 32,808,362 shares of the semiconductor manufacturer’s stock valued at $7,606,291,000 after buying an additional 810,907 shares during the period. Finally, NBW Capital LLC bought a new position in shares of Broadcom during the 4th quarter worth approximately $8,738,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on 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 transaction, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % 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 worth $44,964,800. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 6.0 %

Shares of NASDAQ:AVGO opened at $187.37 on Tuesday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The company has a market capitalization of $878.27 billion, a PE ratio of 152.83, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The business has a fifty day moving average price of $226.54 and a two-hundred day moving average price 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 posted 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 company had revenue of $14.05 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. Analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 191.87%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Citigroup lifted their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Jefferies Financial Group upped their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Morgan Stanley cut their price objective on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Bank of America boosted their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Piper Sandler increased their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

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.