Cutter & CO Brokerage Inc. Has $2.04 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Cutter & CO Brokerage Inc. reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,829 shares of the semiconductor manufacturer’s stock after selling 32 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Broadcom were worth $2,042,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. PSI Advisors LLC boosted its holdings in shares of Broadcom by 66.7% during the 4th 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. BKM Wealth Management LLC acquired a new position in Broadcom during the 4th quarter valued at $29,000. CKW Financial Group acquired a new position in Broadcom during the 4th quarter valued at $30,000. Macroview Investment Management LLC acquired a new position in Broadcom during the 3rd quarter valued at $29,000. Finally, PrairieView Partners LLC raised its stake in Broadcom by 178.6% during the 4th quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock valued at $44,000 after purchasing an additional 25 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, 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 legal filing with the SEC, which is available at the SEC website. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on AVGO. Susquehanna upped their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Cantor Fitzgerald upped their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Oppenheimer restated an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, UBS Group increased their price objective on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Trading Up 2.0 %

Shares of NASDAQ:AVGO traded up $24.73 during mid-day trading on Tuesday, reaching $1,249.19. The stock had a trading volume of 2,198,693 shares, compared to its average volume of 2,952,703. The firm has a market cap of $578.90 billion, a PE ratio of 46.21, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25. The firm has a 50 day simple moving average of $1,304.30 and a two-hundred day simple moving average of $1,125.79. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period last year, the company posted $9.83 EPS. On average, research analysts predict that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

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.