Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lessened by Family Asset Management LLC

Family Asset Management LLC cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 218 shares of the semiconductor manufacturer’s stock after selling 24 shares during the period. Family Asset Management LLC’s holdings in Broadcom were worth $243,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Broadcom during the fourth quarter worth $25,000. PSI Advisors LLC raised its stake 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 purchasing an additional 10 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Broadcom during the 4th quarter worth about $29,000. CKW Financial Group acquired a new stake in shares of Broadcom during the 4th quarter valued at about $30,000. Finally, Bfsg LLC bought a new stake in shares of Broadcom in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 5,000 shares of the company’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 sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the transaction, the insider now directly owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. In the last three months, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of analyst reports. Susquehanna lifted 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. Mizuho upped their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Cantor Fitzgerald raised their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Finally, Evercore ISI began coverage on Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Stock Performance

Shares of AVGO traded up $32.20 during trading hours on Monday, reaching $1,310.31. 1,627,126 shares of the company traded hands, compared to its average volume of 2,890,694. 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 stock’s fifty day moving average is $1,308.68 and its 200 day moving average is $1,154.58. Broadcom Inc. has a 1-year low of $615.86 and a 1-year high of $1,438.17. The stock has a market cap of $607.22 billion, a P/E ratio of 48.57, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $9.83 EPS. Equities research analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is 77.84%.

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.