Madison Wealth Partners Inc Sells 203 Shares of Broadcom Inc. (NASDAQ:AVGO)

Madison Wealth Partners Inc reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 7.1% during the 4th quarter, Holdings Channel reports. The fund owned 2,651 shares of the semiconductor manufacturer’s stock after selling 203 shares during the period. Madison Wealth Partners Inc’s holdings in Broadcom were worth $615,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. DecisionMap Wealth Management LLC bought a new position in Broadcom in the 4th quarter valued at about $885,000. IAG Wealth Partners LLC raised its holdings in Broadcom by 26.5% in the 4th quarter. IAG Wealth Partners LLC now owns 658 shares of the semiconductor manufacturer’s stock valued at $153,000 after acquiring an additional 138 shares during the period. Intermede Investment Partners Ltd bought a new position in Broadcom in the 4th quarter valued at about $147,958,000. PGGM Investments raised its holdings in Broadcom by 53.0% in the 4th quarter. PGGM Investments now owns 164,819 shares of the semiconductor manufacturer’s stock valued at $38,212,000 after acquiring an additional 57,101 shares during the period. Finally, Stelac Advisory Services LLC bought a new position in Broadcom in the 4th quarter valued at about $111,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 2.2 %

Shares of NASDAQ AVGO opened at $194.23 on Thursday. 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. The firm has a market capitalization of $913.26 billion, a PE ratio of 158.43, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The firm has a fifty day simple moving average of $219.67 and a two-hundred day simple moving average of $193.45.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm posted $0.98 EPS. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. Equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insiders Place Their Bets

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of a number of analyst reports. Benchmark restated a “buy” rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Bank of America increased their target price on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. TD Cowen increased their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Citigroup increased their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $231.48.

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.