CWA Asset Management Group LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 392 shares of the semiconductor manufacturer’s stock after selling 61 shares during the quarter. CWA Asset Management Group LLC’s holdings in Broadcom were worth $219,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. King Wealth boosted its holdings in Broadcom by 0.9% during the third quarter. King Wealth now owns 2,303 shares of the semiconductor manufacturer’s stock valued at $1,023,000 after purchasing an additional 20 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Broadcom by 0.9% during the 1st quarter. Orion Portfolio Solutions LLC now owns 2,290 shares of the semiconductor manufacturer’s stock worth $1,442,000 after buying an additional 21 shares during the period. Formidable Asset Management LLC lifted its position in shares of Broadcom by 3.2% during the 3rd quarter. Formidable Asset Management LLC now owns 680 shares of the semiconductor manufacturer’s stock worth $313,000 after buying an additional 21 shares during the period. Northcape Wealth Management LLC boosted its stake in Broadcom by 4.5% in the 2nd quarter. Northcape Wealth Management LLC now owns 513 shares of the semiconductor manufacturer’s stock valued at $249,000 after buying an additional 22 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC grew its position in Broadcom by 0.5% in the third quarter. Sound View Wealth Advisors Group LLC now owns 4,369 shares of the semiconductor manufacturer’s stock valued at $1,940,000 after acquiring an additional 22 shares during the period. Institutional investors own 81.28% of the company’s stock.
Insider Activity at Broadcom
In related news, Director Eddy W. Hartenstein sold 3,175 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $625.01, for a total value of $1,984,406.75. Following the transaction, the director now owns 9,734 shares in the company, valued at $6,083,847.34. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.20% of the stock is owned by company insiders.
Broadcom Price Performance
Broadcom (NASDAQ:AVGO – Get Rating) last posted its quarterly earnings results on Thursday, March 2nd. The semiconductor manufacturer reported $10.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.38 by $0.95. The business had revenue of $8.92 billion for the quarter, compared to analysts’ expectations of $8.90 billion. Broadcom had a return on equity of 73.52% and a net margin of 37.19%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business earned $7.68 earnings per share. As a group, research analysts anticipate that Broadcom Inc. will post 38.09 earnings per share for the current year.
Broadcom Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 22nd will be issued a $4.60 dividend. This represents a $18.40 annualized dividend and a yield of 2.92%. The ex-dividend date is Tuesday, March 21st. Broadcom’s dividend payout ratio is 61.93%.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on AVGO shares. UBS Group reduced their target price on shares of Broadcom from $690.00 to $675.00 in a research note on Friday, December 9th. Mizuho reaffirmed a “buy” rating and set a $720.00 price objective on shares of Broadcom in a research note on Friday. Bank of America lifted their target price on shares of Broadcom from $680.00 to $725.00 in a research note on Friday, March 3rd. Rosenblatt Securities restated a “buy” rating and set a $775.00 price target on shares of Broadcom in a research report on Wednesday, March 1st. Finally, StockNews.com began coverage on Broadcom in a research report on Thursday. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $674.17.
Broadcom Company Profile
Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.
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