Broadcom Inc. (NASDAQ:AVGO) Position Lessened by Altrius Capital Management Inc

Altrius Capital Management Inc decreased its stake in Broadcom Inc. (NASDAQ:AVGO) by 48.2% during the 4th quarter, HoldingsChannel reports. The firm owned 3,189 shares of the semiconductor manufacturer’s stock after selling 2,968 shares during the period. Altrius Capital Management Inc’s holdings in Broadcom were worth $3,561,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. PDS Planning Inc raised its stake in Broadcom by 2.5% during the 3rd quarter. PDS Planning Inc now owns 1,618 shares of the semiconductor manufacturer’s stock valued at $1,344,000 after acquiring an additional 40 shares in the last quarter. Cavalier Investments LLC raised its stake in Broadcom by 3.7% during the 3rd quarter. Cavalier Investments LLC now owns 1,969 shares of the semiconductor manufacturer’s stock valued at $1,635,000 after acquiring an additional 70 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Broadcom by 9.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 99,621 shares of the semiconductor manufacturer’s stock valued at $82,743,000 after acquiring an additional 8,644 shares in the last quarter. FAS Wealth Partners Inc. raised its stake in Broadcom by 2.4% during the 3rd quarter. FAS Wealth Partners Inc. now owns 3,960 shares of the semiconductor manufacturer’s stock valued at $3,289,000 after acquiring an additional 93 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA increased its position in shares of Broadcom by 8.7% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 45,098 shares of the semiconductor manufacturer’s stock valued at $37,457,000 after purchasing an additional 3,618 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 in the last three months. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of AVGO stock traded down $5.45 during trading hours on Monday, hitting $1,338.62. The company had a trading volume of 1,296,578 shares, compared to its average volume of 2,915,594. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The firm has a market capitalization of $620.34 billion, a price-to-earnings ratio of 49.58, a PEG ratio of 2.74 and a beta of 1.25. The firm’s fifty day moving average is $1,306.70 and its 200 day moving average is $1,137.84. 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 (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period in the prior year, the company posted $9.83 EPS. The company’s revenue was up 34.2% compared to the same quarter last year. On average, sell-side analysts predict that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald lifted their price target on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Evercore ISI assumed coverage on Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target on the stock. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Barclays lifted their price target on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Finally, Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.