Inlet Private Wealth LLC Has $1.12 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Inlet Private Wealth LLC cut its stake in Broadcom Inc. (NASDAQ:AVGOFree Report) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,817 shares of the semiconductor manufacturer’s stock after selling 65 shares during the quarter. Inlet Private Wealth LLC’s holdings in Broadcom were worth $1,117,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Castleview Partners LLC raised its position in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares during the period. Pin Oak Investment Advisors Inc. increased its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares during the period. Retirement Wealth Solutions LLC bought a new position in Broadcom during the fourth quarter worth about $37,000. R Squared Ltd bought a new position in Broadcom during the fourth quarter worth about $39,000. Finally, JDM Financial Group LLC increased its position in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares during the period. 76.43% of the stock is owned by institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AVGO. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Benchmark reaffirmed a “buy” rating and set a $255.00 price target (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Bank of America raised their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Robert W. Baird raised their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Susquehanna raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Read Our Latest Research Report on Broadcom

Broadcom Stock Performance

Shares of AVGO stock opened at $217.73 on Tuesday. The firm has a market capitalization of $1.02 trillion, a PE ratio of 177.60, a price-to-earnings-growth ratio of 2.31 and a beta of 1.03. The firm has a fifty day simple moving average of $213.41 and a two-hundred day simple moving average of $182.20. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 EPS. Analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.08%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is currently 191.87%.

Broadcom Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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