Broadcom Inc. $AVGO Position Decreased by Heritage Wealth Management Inc. CA

Heritage Wealth Management Inc. CA lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 7.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,840 shares of the semiconductor manufacturer’s stock after selling 1,271 shares during the quarter. Broadcom comprises approximately 3.3% of Heritage Wealth Management Inc. CA’s holdings, making the stock its 8th biggest position. Heritage Wealth Management Inc. CA’s holdings in Broadcom were worth $5,136,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Biltmore Family Office LLC boosted its stake in shares of Broadcom by 6.9% in the 4th quarter. Biltmore Family Office LLC now owns 8,768 shares of the semiconductor manufacturer’s stock worth $3,035,000 after buying an additional 569 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Broadcom by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 540,860 shares of the semiconductor manufacturer’s stock worth $187,192,000 after buying an additional 3,279 shares during the last quarter. Stonebridge Financial Group LLC MO purchased a new position in shares of Broadcom in the 4th quarter worth approximately $1,766,000. Bridgewealth Advisory Group LLC boosted its stake in shares of Broadcom by 43.0% in the 4th quarter. Bridgewealth Advisory Group LLC now owns 1,682 shares of the semiconductor manufacturer’s stock worth $582,000 after buying an additional 506 shares during the last quarter. Finally, Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Broadcom by 3.8% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 2,179 shares of the semiconductor manufacturer’s stock worth $754,000 after buying an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 1.1%

Shares of AVGO stock opened at $420.71 on Tuesday. The company’s fifty day simple moving average is $367.36 and its two-hundred day simple moving average is $354.90. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. Broadcom Inc. has a 1 year low of $221.60 and a 1 year high of $442.36. The stock has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 82.17, a PEG ratio of 0.88 and a beta of 1.43.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. As a group, analysts anticipate that Broadcom Inc. will post 9.95 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom’s payout ratio is presently 50.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AVGO shares. Wells Fargo & Company restated an “overweight” rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research note on Tuesday, April 7th. Benchmark reiterated a “buy” rating and issued a $485.00 price objective on shares of Broadcom in a research note on Thursday, March 5th. Finally, TD Cowen reiterated a “buy” rating and issued a $500.00 price objective (up from $405.00) on shares of Broadcom in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $442.13.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the transaction, the insider owned 787,184 shares of the company’s stock, valued at $271,759,532.32. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the completion of the transaction, the insider directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 324,282 shares of company stock worth $106,425,249. Company insiders own 1.90% of the company’s stock.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.