Beaumont Financial Advisors LLC Sells 4,478 Shares of Broadcom Inc. (NASDAQ:AVGO)

Beaumont Financial Advisors LLC reduced its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 32,106 shares of the semiconductor manufacturer’s stock after selling 4,478 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Broadcom were worth $7,443,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of AVGO. NCP Inc. lifted its holdings in Broadcom by 615.4% during the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after acquiring an additional 400 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Broadcom by 257.1% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,167 shares of the semiconductor manufacturer’s stock worth $19,535,000 after acquiring an additional 8,760 shares during the period. APG Asset Management US Inc. lifted its holdings in Broadcom by 1.8% during the second quarter. APG Asset Management US Inc. now owns 158,744 shares of the semiconductor manufacturer’s stock worth $260,467,000 after acquiring an additional 2,795 shares during the period. Element Pointe Advisors LLC raised its stake in shares of Broadcom by 112.8% in the second quarter. Element Pointe Advisors LLC now owns 566 shares of the semiconductor manufacturer’s stock valued at $909,000 after buying an additional 300 shares during the period. Finally, EDENTREE ASSET MANAGEMENT Ltd raised its stake in shares of Broadcom by 15.7% in the second quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 1,133 shares of the semiconductor manufacturer’s stock valued at $1,819,000 after buying an additional 154 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on AVGO shares. Evercore ISI boosted their target price on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Truist Financial boosted their target price on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Robert W. Baird boosted their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Cantor Fitzgerald boosted their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three 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 an average rating of “Moderate Buy” and an average price target of $225.83.

Broadcom Price Performance

AVGO opened at $240.28 on Friday. The stock has a 50-day moving average price of $205.81 and a 200-day moving average price of $179.64. Broadcom Inc. has a 12-month low of $117.43 and a 12-month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $1.13 trillion, a P/E ratio of 195.99, a PEG ratio of 2.51 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the business earned $0.98 EPS. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. Equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 12,570 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the transaction, the chief financial officer now owns 325,443 shares of the company’s stock, valued at $74,728,221.66. This represents a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by corporate insiders.

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.