Redwood Wealth Management Group LLC Sells 4,829 Shares of Broadcom Inc. (NASDAQ:AVGO)

Redwood Wealth Management Group LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 28.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,201 shares of the semiconductor manufacturer’s stock after selling 4,829 shares during the quarter. Broadcom comprises approximately 1.4% of Redwood Wealth Management Group LLC’s holdings, making the stock its 17th largest holding. Redwood Wealth Management Group LLC’s holdings in Broadcom were worth $2,831,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. KFA Private Wealth Group LLC increased its stake in Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after purchasing an additional 42 shares during the period. Dakota Community Bank & Trust NA grew its position in shares of Broadcom by 2.7% during the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after buying an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC grew its position in shares of Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after buying an additional 45 shares in the last quarter. Marest Capital LLC grew its position in shares of Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after buying an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC grew its position in shares of Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after buying an additional 47 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 2.8 %

Broadcom stock opened at $224.87 on Friday. 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 Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 183.42, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02. The stock has a 50-day moving average price of $218.50 and a 200 day moving average price of $183.74.

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

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.05%. Broadcom’s payout ratio is presently 191.87%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AVGO shares. Benchmark reissued a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. UBS Group increased their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Truist Financial increased their price target on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $225.04.

Insider Buying and Selling at Broadcom

In other news, Director Harry L. You sold 6,540 shares of the company’s 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 of the company’s stock, valued at $7,308,000. This represents a 17.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by company insiders.

Broadcom Company 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.