Masso Torrence Wealth Management Inc. Decreases Stake in Broadcom Inc. (NASDAQ:AVGO)

Masso Torrence Wealth Management Inc. lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,807 shares of the semiconductor manufacturer’s stock after selling 30 shares during the quarter. Broadcom comprises about 2.1% of Masso Torrence Wealth Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Masso Torrence Wealth Management Inc.’s holdings in Broadcom were worth $3,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in AVGO. International Assets Investment Management LLC increased its position in Broadcom by 113,495.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after purchasing an additional 3,324,288 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Broadcom by 43.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after buying an additional 1,228,755 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Broadcom during the 3rd quarter valued at about $560,563,000. FMR LLC lifted its holdings in shares of Broadcom by 16.7% in the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after acquiring an additional 573,826 shares during the last quarter. Finally, Invesco Ltd. grew its position in Broadcom by 19.1% in the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after acquiring an additional 514,120 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the sale, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was 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 of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 over the last three months. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.2 %

Shares of NASDAQ AVGO traded up $2.31 during midday trading on Wednesday, hitting $1,251.50. The company’s stock had a trading volume of 1,004,884 shares, compared to its average volume of 2,927,004. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The firm has a market capitalization of $579.97 billion, a price-to-earnings ratio of 46.86, a price-to-earnings-growth ratio of 2.50 and a beta of 1.25. The business’s fifty day simple moving average is $1,304.25 and its two-hundred day simple moving average is $1,128.64. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter last year, the company earned $9.83 EPS. On average, equities analysts predict that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AVGO. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. UBS Group raised their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Benchmark reaffirmed a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.