Broadcom Inc. (NASDAQ:AVGO) Stock Position Reduced by Johnson & White Wealth Management LLC

Johnson & White Wealth Management LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,134 shares of the semiconductor manufacturer’s stock after selling 250 shares during the quarter. Broadcom makes up about 2.4% of Johnson & White Wealth Management LLC’s holdings, making the stock its 14th biggest position. Johnson & White Wealth Management LLC’s holdings in Broadcom were worth $3,975,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of AVGO. Central Pacific Bank Trust Division raised its holdings in shares of Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after acquiring an additional 3,707 shares in the last quarter. AXA S.A. increased its position in Broadcom by 2.7% in the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after purchasing an additional 7,608 shares during the last quarter. Strait & Sound Wealth Management LLC raised its stake in shares of Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares in the last quarter. Catalyst Financial Partners LLC lifted its holdings in shares of Broadcom by 943.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after buying an additional 18,206 shares during the last quarter. Finally, Whittier Trust Co. grew its stake in shares of Broadcom by 947.2% in the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after buying an additional 623,983 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on AVGO. Truist Financial boosted their target price on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Evercore ISI increased their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. UBS Group increased their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Bank of America boosted their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $223.54.

Broadcom Price Performance

Shares of AVGO stock opened at $224.70 on Wednesday. Broadcom Inc. has a 12 month low of $109.02 and a 12 month high of $251.88. The company has a market capitalization of $1.05 trillion, a P/E ratio of 195.22, a P/E/G ratio of 2.15 and a beta of 1.03. The stock has a 50 day moving average of $199.05 and a two-hundred day moving average of $176.63. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period last year, the business earned $0.98 earnings per share. As a group, equities analysts expect that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.05%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 191.87%.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last quarter. 2.00% of the stock is owned by company insiders.

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.