Duncan Williams Asset Management LLC Trims Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Duncan Williams Asset Management LLC lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,108 shares of the semiconductor manufacturer’s stock after selling 217 shares during the quarter. Duncan Williams Asset Management LLC’s holdings in Broadcom were worth $489,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. TTP Investments Inc. boosted its stake in shares of Broadcom by 71.7% during the fourth quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer’s stock valued at $14,061,000 after purchasing an additional 25,330 shares during the period. Precedent Wealth Partners LLC increased its stake in Broadcom by 1.2% in the 4th quarter. Precedent Wealth Partners LLC now owns 17,449 shares of the semiconductor manufacturer’s stock worth $4,045,000 after buying an additional 208 shares during the period. AlphaMark Advisors LLC boosted its position in Broadcom by 1.9% in the 4th quarter. AlphaMark Advisors LLC now owns 9,045 shares of the semiconductor manufacturer’s stock valued at $2,097,000 after buying an additional 166 shares during the period. Patton Albertson Miller Group LLC boosted its position in Broadcom by 3.0% in the 4th quarter. Patton Albertson Miller Group LLC now owns 63,328 shares of the semiconductor manufacturer’s stock valued at $14,682,000 after buying an additional 1,832 shares during the period. Finally, Juncture Wealth Strategies LLC grew its stake in Broadcom by 11.7% in the 4th quarter. Juncture Wealth Strategies LLC now owns 3,775 shares of the semiconductor manufacturer’s stock worth $875,000 after acquiring an additional 395 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the transaction, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AVGO shares. Piper Sandler lifted their price target on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Robert W. Baird lifted their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Truist Financial increased their price target on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Mizuho lifted their price objective on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, 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 report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Up 2.7 %

NASDAQ:AVGO opened at $207.55 on Wednesday. The company’s 50 day moving average is $209.53 and its two-hundred day moving average is $180.81. The company has a market cap of $972.85 billion, a PE ratio of 169.29, a P/E/G ratio of 2.52 and a beta of 1.03. Broadcom Inc. has a twelve month low of $117.43 and a twelve month high of $251.88. 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 (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the firm earned $0.98 EPS. The firm’s revenue was up 51.2% on a year-over-year basis. Analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.14%. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

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.