BBR Partners LLC Has $503,000 Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

BBR Partners LLC cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 51.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,170 shares of the semiconductor manufacturer’s stock after selling 2,300 shares during the period. BBR Partners LLC’s holdings in Broadcom were worth $503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Ashton Thomas Private Wealth LLC raised its holdings in shares of Broadcom by 10.7% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 122,544 shares of the semiconductor manufacturer’s stock worth $28,411,000 after buying an additional 11,831 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. acquired a new position in shares of Broadcom during the 4th quarter worth $298,000. Callan Family Office LLC raised its holdings in shares of Broadcom by 2,169.5% during the 4th quarter. Callan Family Office LLC now owns 54,241 shares of the semiconductor manufacturer’s stock worth $12,575,000 after buying an additional 51,851 shares in the last quarter. Hartford Funds Management Co LLC raised its holdings in shares of Broadcom by 8.9% during the 4th quarter. Hartford Funds Management Co LLC now owns 7,638 shares of the semiconductor manufacturer’s stock worth $1,771,000 after buying an additional 622 shares in the last quarter. Finally, Chatham Capital Group Inc. raised its holdings in shares of Broadcom by 2.0% during the 4th quarter. Chatham Capital Group Inc. now owns 7,200 shares of the semiconductor manufacturer’s stock worth $1,669,000 after buying an additional 140 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In related news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the transaction, the chief financial officer now directly owns 325,443 shares in the company, valued at approximately $74,728,221.66. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 6.3 %

Shares of Broadcom stock opened at $179.45 on Friday. 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 current ratio of 1.17 and a quick ratio of 1.07. The stock’s 50-day moving average is $223.22 and its 200 day moving average is $192.55. The firm has a market cap of $841.15 billion, a price-to-earnings ratio of 146.37, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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 given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.32%. Broadcom’s payout ratio is 191.87%.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research analyst reports. Citigroup boosted their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Jefferies Financial Group boosted their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Susquehanna boosted their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Barclays boosted their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Benchmark restated a “buy” rating and set a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.