Hohimer Wealth Management LLC Sells 87 Shares of Broadcom Inc. (NASDAQ:AVGO)

Hohimer Wealth Management LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,122 shares of the semiconductor manufacturer’s stock after selling 87 shares during the quarter. Broadcom comprises approximately 2.9% of Hohimer Wealth Management LLC’s portfolio, making the stock its 2nd largest holding. Hohimer Wealth Management LLC’s holdings in Broadcom were worth $11,299,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Stuart Chaussee & Associates Inc. bought a new position in shares of Broadcom in the fourth quarter valued at approximately $25,000. PSI Advisors LLC boosted its stake in Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares in the last quarter. BKM Wealth Management LLC bought a new stake in shares of Broadcom during the fourth quarter worth $29,000. CKW Financial Group acquired a new stake in shares of Broadcom in the fourth quarter valued at $30,000. Finally, Bfsg LLC bought a new position in shares of Broadcom in the fourth quarter valued at about $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 0.7 %

Broadcom stock traded down $9.60 during midday trading on Thursday, reaching $1,382.64. The stock had a trading volume of 2,067,836 shares, compared to its average volume of 2,770,778. The stock has a market capitalization of $640.74 billion, a P/E ratio of 51.50, a price-to-earnings-growth ratio of 2.79 and a beta of 1.25. The firm’s fifty day simple moving average is $1,318.57 and its 200-day simple moving average is $1,195.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a 1-year low of $676.06 and a 1-year high of $1,445.40.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the previous year, the firm posted $9.83 earnings per share. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, analysts expect that Broadcom Inc. will post 36.06 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AVGO. Oppenheimer restated an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. UBS Group lifted their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Barclays upped their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,296.91.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the transaction, the insider now directly owns 41,974 shares in the company, valued at $55,257,092.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now directly owns 41,974 shares in the company, valued at approximately $55,257,092.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 3,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $1,343.14, for a total transaction of $4,029,420.00. Following the completion of the sale, the chief financial officer now owns 43,459 shares of the company’s stock, valued at $58,371,521.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by insiders.

Broadcom 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.