Triangle Securities Wealth Management Has $1.63 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Triangle Securities Wealth Management trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,922 shares of the semiconductor manufacturer’s stock after selling 24 shares during the quarter. Triangle Securities Wealth Management’s holdings in Broadcom were worth $1,634,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Coston McIsaac & Partners purchased a new stake in Broadcom in the 2nd quarter valued at $32,000. First Personal Financial Services raised its position in Broadcom by 126.7% in the 3rd quarter. First Personal Financial Services now owns 68 shares of the semiconductor manufacturer’s stock valued at $30,000 after buying an additional 38 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE raised its position in Broadcom by 138.7% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 74 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 43 shares during the last quarter. Colonial Trust Advisors purchased a new stake in Broadcom in the 3rd quarter valued at $36,000. Finally, Annapolis Financial Services LLC raised its position in Broadcom by 75.5% in the 3rd quarter. Annapolis Financial Services LLC now owns 86 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 37 shares during the last quarter. 81.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 3,175 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $625.01, for a total value of $1,984,406.75. Following the completion of the transaction, the director now owns 9,734 shares in the company, valued at approximately $6,083,847.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial increased their price target on Broadcom from $659.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, March 3rd. Evercore ISI increased their price target on Broadcom to $650.00 in a research report on Monday, December 12th. Mizuho restated a “buy” rating and issued a $720.00 price objective on shares of Broadcom in a research note on Friday. Wells Fargo & Company upped their price objective on Broadcom from $580.00 to $600.00 and gave the company an “equal weight” rating in a research note on Friday, March 3rd. Finally, Susquehanna restated a “positive” rating and issued a $690.00 price objective on shares of Broadcom in a research note on Thursday, March 9th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $674.17.

Broadcom Stock Performance

Shares of AVGO stock traded down $5.53 on Friday, hitting $630.97. 7,930,280 shares of the stock were exchanged, compared to its average volume of 2,319,818. The company has a current ratio of 2.52, a quick ratio of 2.26 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $263.06 billion, a PE ratio of 21.24, a P/E/G ratio of 1.26 and a beta of 1.10. Broadcom Inc. has a one year low of $415.07 and a one year high of $645.31. The firm’s 50 day moving average is $597.58 and its two-hundred day moving average is $535.85.

Broadcom (NASDAQ:AVGO – Get Rating) last issued its earnings results on Thursday, March 2nd. The semiconductor manufacturer reported $10.33 EPS for the quarter, topping the consensus estimate of $9.38 by $0.95. Broadcom had a return on equity of 73.52% and a net margin of 37.19%. The business had revenue of $8.92 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter last year, the company earned $7.68 EPS. The firm’s revenue was up 15.7% compared to the same quarter last year. Sell-side analysts expect that Broadcom Inc. will post 38.06 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 22nd will be paid a $4.60 dividend. The ex-dividend date of this dividend is Tuesday, March 21st. This represents a $18.40 annualized dividend and a yield of 2.92%. Broadcom’s dividend payout ratio is currently 61.93%.

About Broadcom

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Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.