Guidance Point Advisors LLC Reduces Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Guidance Point Advisors LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 32.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 410 shares of the semiconductor manufacturer’s stock after selling 197 shares during the period. Guidance Point Advisors LLC’s holdings in Broadcom were worth $459,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Macroview Investment Management LLC bought a new stake in Broadcom during the 3rd quarter valued at $29,000. BKM Wealth Management LLC bought a new stake in Broadcom during the 4th quarter valued at $29,000. CKW Financial Group bought a new stake in Broadcom during the 4th quarter valued at $30,000. VitalStone Financial LLC increased its holdings in shares of Broadcom by 71.4% in the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 25 shares during the period. Finally, Rise Advisors LLC increased its holdings in shares of Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 10 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, Director Justine Page sold 110 shares of Broadcom stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Justine Page sold 110 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 in the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.3 %

Shares of AVGO traded down $3.80 on Wednesday, hitting $1,325.26. 254,739 shares of the stock traded hands, compared to its average volume of 2,923,315. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The business has a 50 day simple moving average of $1,306.49 and a 200 day simple moving average of $1,114.01. The company has a market capitalization of $614.15 billion, a PE ratio of 49.26, a P/E/G ratio of 2.67 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the company posted $9.83 earnings per share. As a group, equities analysts forecast that Broadcom Inc. will post 35.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.58%. Broadcom’s payout ratio is 77.84%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays began coverage on shares of Broadcom in a report on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 price target on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Cantor Fitzgerald upped their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Finally, Evercore ISI assumed coverage on shares of Broadcom in a research report on Tuesday. They set an “outperform” rating and a $1,620.00 price target for the company. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $1,281.09.

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.