Broadcom Inc. $AVGO Shares Sold by Bell & Brown Wealth Advisors LLC

Bell & Brown Wealth Advisors LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,534 shares of the semiconductor manufacturer’s stock after selling 2,804 shares during the period. Broadcom comprises about 6.6% of Bell & Brown Wealth Advisors LLC’s investment portfolio, making the stock its biggest position. Bell & Brown Wealth Advisors LLC’s holdings in Broadcom were worth $20,301,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AVGO. Longfellow Investment Management Co. LLC bought a new position in shares of Broadcom in the 2nd quarter worth $27,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Broadcom in the 2nd quarter valued at approximately $28,000. LGT Financial Advisors LLC acquired a new position in Broadcom during the second quarter worth approximately $31,000. New England Capital Financial Advisors LLC acquired a new position in shares of Broadcom during the 2nd quarter worth approximately $31,000. Finally, JCIC Asset Management Inc. bought a new position in Broadcom in the 3rd quarter valued at about $31,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In related news, insider Mark David Brazeal sold 38,281 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total value of $12,542,769.65. Following the transaction, the insider directly owned 266,494 shares of the company’s stock, valued at approximately $87,316,759.10. This represents a 12.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 320,316 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the transaction, the director owned 37,326,540 shares in the company, valued at $14,950,399,066.20. This represents a 0.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 779,101 shares of company stock worth $283,804,325. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $333.51 on Thursday. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61. The stock has a market cap of $1.58 trillion, a PE ratio of 70.07, a price-to-earnings-growth ratio of 1.07 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71. The stock has a fifty day moving average of $339.29 and a 200-day moving average of $341.27.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.08. The company had revenue of $18.02 billion during the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The firm’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter last year, the company earned $1.42 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio (DPR) is presently 54.62%.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Robert W. Baird set a $420.00 price target on Broadcom in a research report on Friday, December 12th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Mizuho set a $480.00 price target on Broadcom and gave the stock an “outperform” rating in a report on Friday, January 9th. Barclays reaffirmed an “overweight” rating and set a $500.00 target price (up from $450.00) on shares of Broadcom in a research report on Friday, December 12th. Finally, Morgan Stanley raised their target price on Broadcom from $443.00 to $462.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $433.13.

Check Out Our Latest Stock Analysis on AVGO

Broadcom Company Profile

(Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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