Blake Schutter Theil Wealth Advisors LLC Sells 2,354 Shares of Broadcom Inc. (NASDAQ:AVGO)

Blake Schutter Theil Wealth Advisors LLC reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 44.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,967 shares of the semiconductor manufacturer’s stock after selling 2,354 shares during the quarter. Blake Schutter Theil Wealth Advisors LLC’s holdings in Broadcom were worth $688,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC bought a new stake in Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom during the fourth quarter worth approximately $26,000. Bellevue Asset Management LLC bought a new position in shares of Broadcom in the 4th quarter worth $33,000. Pin Oak Investment Advisors Inc. grew its position in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Finally, Synergy Investment Management LLC bought a new stake in Broadcom during the 4th quarter valued at $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. TD Cowen raised their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Mizuho cut their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday. Piper Sandler increased their price objective on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. KeyCorp raised their target price on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday. Finally, Truist Financial upped their price target on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $231.48.

Insiders Place Their Bets

In other news, 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 value of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the transaction, the chief financial officer now directly owns 325,443 shares of the company’s stock, valued at approximately $74,728,221.66. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 in the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

NASDAQ AVGO opened at $194.96 on Friday. The company has a market cap of $913.85 billion, a PE ratio of 159.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm’s 50-day simple moving average is $222.28 and its two-hundred day simple moving average is $192.93. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the firm earned $0.98 EPS. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

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.