Brown Miller Wealth Management LLC Has $3.38 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Brown Miller Wealth Management LLC lowered its holdings in Broadcom Inc. (NASDAQ:AVGO) by 14.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,590 shares of the semiconductor manufacturer’s stock after selling 2,431 shares during the quarter. Broadcom comprises about 1.3% of Brown Miller Wealth Management LLC’s investment portfolio, making the stock its 18th largest position. Brown Miller Wealth Management LLC’s holdings in Broadcom were worth $3,383,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. boosted its stake in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Canton Hathaway LLC acquired a new position in Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom in the fourth quarter worth $26,000. JDM Financial Group LLC boosted its stake in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC acquired a new position in shares of Broadcom during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on AVGO. JPMorgan Chase & Co. upped their price target on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Truist Financial upped their price target on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Jefferies Financial Group upped their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Transactions at Broadcom

In other news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $3,400,200.00. Following the transaction, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.

Broadcom Stock Down 1.5 %

NASDAQ:AVGO opened at $191.36 on Friday. The firm has a market capitalization of $899.76 billion, a price-to-earnings ratio of 156.09, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The stock’s 50 day moving average price is $218.86 and its two-hundred day moving average price is $193.43. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

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

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. Broadcom’s dividend payout ratio is currently 113.46%.

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.