Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Northcape Wealth Management LLC

Northcape Wealth Management LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 630 shares of the semiconductor manufacturer’s stock after selling 47 shares during the period. Northcape Wealth Management LLC’s holdings in Broadcom were worth $704,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Stuart Chaussee & Associates Inc. acquired a new stake in Broadcom in the fourth quarter worth $25,000. PSI Advisors LLC increased its position in Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares during the period. Macroview Investment Management LLC acquired a new stake in Broadcom in the third quarter worth $29,000. BKM Wealth Management LLC acquired a new stake in Broadcom in the fourth quarter worth $29,000. Finally, CKW Financial Group acquired a new stake in Broadcom in the fourth quarter worth $30,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Down 2.9 %

Shares of Broadcom stock traded down $38.35 during trading on Tuesday, hitting $1,300.27. 2,208,554 shares of the stock traded hands, compared to its average volume of 2,907,510. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The company has a fifty day moving average price of $1,308.57 and a two-hundred day moving average price of $1,140.88. The stock has a market cap of $602.57 billion, a P/E ratio of 48.86, a PEG ratio of 2.74 and a beta of 1.25. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17.

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

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Insider Activity

In related news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares in the company, valued at approximately $61,957,296.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,920 shares of company stock worth $40,306,667. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on AVGO shares. Evercore ISI started coverage on Broadcom in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Susquehanna increased their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Benchmark reissued a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.