Avior Wealth Management LLC Sells 959 Shares of Broadcom Inc. (NASDAQ:AVGO)

Avior Wealth Management LLC trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,160 shares of the semiconductor manufacturer’s stock after selling 959 shares during the period. Avior Wealth Management LLC’s holdings in Broadcom were worth $5,833,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Castleview Partners LLC boosted its holdings in shares of Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. lifted 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 valued at $25,000 after acquiring an additional 135 shares during the last quarter. JDM Financial Group LLC boosted its stake in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Broadcom in the fourth quarter worth $37,000. Finally, Tsfg LLC lifted its holdings in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 204 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

NASDAQ AVGO opened at $244.70 on Friday. 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 twelve month low of $117.43 and a twelve month high of $251.88. The stock has a 50-day moving average of $208.80 and a 200 day moving average of $180.62. The stock has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 199.59, a PEG ratio of 2.52 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the company posted $0.98 EPS. The business’s quarterly revenue was up 51.2% on a year-over-year basis. Sell-side analysts anticipate 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. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.96%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is presently 192.50%.

Analyst Ratings Changes

Several research analysts recently weighed in on AVGO shares. Morgan Stanley boosted their target price on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Evercore ISI lifted their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Susquehanna upped 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. UBS Group lifted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Cantor Fitzgerald raised their target price on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $225.83.

Insiders Place Their Bets

In other news, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the sale, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom Company Profile

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.