Future Financial Wealth Managment LLC Lowers Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Future Financial Wealth Managment LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,547 shares of the semiconductor manufacturer’s stock after selling 159 shares during the quarter. Future Financial Wealth Managment LLC’s holdings in Broadcom were worth $359,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. acquired a new stake in Broadcom in the second quarter valued at approximately $128,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Broadcom during the second quarter worth approximately $136,000. Inspire Advisors LLC acquired a new position in shares of Broadcom in the 2nd quarter valued at $211,000. RiverGlades Family Offices LLC acquired a new position in shares of Broadcom in the 2nd quarter valued at $210,000. Finally, Madison Wealth Partners Inc acquired a new position in shares of Broadcom in the 2nd quarter valued at $221,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AVGO. TD Cowen lifted their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price objective 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. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Barclays boosted their price objective on shares of Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Morgan Stanley boosted their target price on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $223.54.

Broadcom Price Performance

AVGO stock traded up $1.12 during trading hours on Monday, hitting $225.43. 13,952,330 shares of the stock traded hands, compared to its average volume of 24,690,783. The stock has a 50-day simple moving average of $196.90 and a 200 day simple moving average of $175.71. Broadcom Inc. has a one year low of $109.02 and a one year high of $251.88. The company has a market cap of $1.06 trillion, a P/E ratio of 195.86, a P/E/G ratio of 2.15 and a beta of 1.03. 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 announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the business posted $0.98 earnings per share. The company’s quarterly revenue was up 51.2% on a year-over-year basis. Equities analysts forecast that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Insider Activity at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in 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.