Blodgett Wealth Advisors LLC Sells 313 Shares of Broadcom Inc. (NASDAQ:AVGO)

Blodgett Wealth Advisors LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 45.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 372 shares of the semiconductor manufacturer’s stock after selling 313 shares during the quarter. Blodgett Wealth Advisors LLC’s holdings in Broadcom were worth $415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Yoder Wealth Management Inc. bought a new position in Broadcom in the 4th quarter valued at about $239,000. Callan Capital LLC lifted its position in Broadcom by 13.6% in the 4th quarter. Callan Capital LLC now owns 735 shares of the semiconductor manufacturer’s stock valued at $820,000 after acquiring an additional 88 shares in the last quarter. Motley Fool Asset Management LLC lifted its position in Broadcom by 19.2% in the 4th quarter. Motley Fool Asset Management LLC now owns 13,836 shares of the semiconductor manufacturer’s stock valued at $15,444,000 after acquiring an additional 2,229 shares in the last quarter. Evolution Advisers Inc. bought a new position in Broadcom in the 4th quarter valued at about $49,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its position in Broadcom by 5.9% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 271,291 shares of the semiconductor manufacturer’s stock valued at $302,828,000 after acquiring an additional 15,214 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO stock traded up $49.65 during midday trading on Friday, reaching $1,344.07. 2,409,427 shares of the company’s stock traded hands, compared to its average volume of 2,935,572. The company has a 50-day moving average price of $1,306.70 and a two-hundred day moving average price of $1,134.07. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The firm has a market capitalization of $622.87 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 2.56 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.83 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.56%. Broadcom’s payout ratio is currently 77.84%.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 110 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Justine Page sold 110 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares of the company’s stock, valued at $220,583,976. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent analyst reports. Barclays lifted their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. UBS Group lifted their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Oppenheimer reissued an “outperform” rating and set a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Finally, Mizuho lifted their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

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.