Broadcom Inc. (NASDAQ:AVGO) Holdings Reduced by Carolina Wealth Advisors LLC

Carolina Wealth Advisors LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,254 shares of the semiconductor manufacturer’s stock after selling 1,009 shares during the period. Broadcom accounts for approximately 3.9% of Carolina Wealth Advisors LLC’s portfolio, making the stock its 7th biggest position. Carolina Wealth Advisors LLC’s holdings in Broadcom were worth $7,246,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. NCP Inc. raised its position in Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after purchasing an additional 400 shares during the period. Seven Eight Capital LP acquired a new position in Broadcom in the second quarter valued at about $2,177,000. Sienna Gestion boosted its stake in Broadcom by 1.6% during the second quarter. Sienna Gestion now owns 12,161 shares of the semiconductor manufacturer’s stock worth $19,516,000 after buying an additional 196 shares during the period. Kendall Capital Management increased its position in shares of Broadcom by 5.3% during the second quarter. Kendall Capital Management now owns 6,481 shares of the semiconductor manufacturer’s stock valued at $10,405,000 after acquiring an additional 328 shares during the last quarter. Finally, Richardson Financial Services Inc. increased its holdings in Broadcom by 1,588.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 2,448 shares of the semiconductor manufacturer’s stock valued at $3,930,000 after purchasing an additional 2,303 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $229.41 on Friday. The company has a 50-day simple moving average of $200.02 and a 200-day simple moving average of $177.11. 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 stock has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 187.12, a PEG ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a one year low of $109.02 and a one year high of $251.88.

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

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is 192.50%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AVGO. Susquehanna raised their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Evercore ISI upped their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Benchmark reissued a “buy” rating and issued a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Cantor Fitzgerald increased their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.54.

About Broadcom

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.