Herold Advisors Inc. Lowers Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Herold Advisors Inc. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,567 shares of the semiconductor manufacturer’s stock after selling 50 shares during the quarter. Herold Advisors Inc.’s holdings in Broadcom were worth $1,750,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Impact Partnership Wealth LLC increased its holdings in shares of Broadcom by 151.8% during the third quarter. Impact Partnership Wealth LLC now owns 141 shares of the semiconductor manufacturer’s stock valued at $117,000 after acquiring an additional 85 shares in the last quarter. Boston Trust Walden Corp increased its holdings in Broadcom by 0.6% in the 3rd quarter. Boston Trust Walden Corp now owns 2,381 shares of the semiconductor manufacturer’s stock worth $1,978,000 after buying an additional 15 shares in the last quarter. Strategic Blueprint LLC raised its position in Broadcom by 8.1% in the 3rd quarter. Strategic Blueprint LLC now owns 1,058 shares of the semiconductor manufacturer’s stock worth $879,000 after buying an additional 79 shares during the last quarter. Washington Trust Advisors Inc. lifted its stake in Broadcom by 87.0% during the 3rd quarter. Washington Trust Advisors Inc. now owns 288 shares of the semiconductor manufacturer’s stock valued at $239,000 after acquiring an additional 134 shares during the period. Finally, Capital Asset Advisory Services LLC boosted its holdings in shares of Broadcom by 6.1% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 830 shares of the semiconductor manufacturer’s stock valued at $726,000 after acquiring an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Barclays raised their price target on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. Finally, Susquehanna lifted their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Activity

In other news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Up 3.8 %

Shares of NASDAQ AVGO opened at $1,344.07 on Friday. The business’s 50 day moving average is $1,306.70 and its two-hundred day moving average is $1,134.07. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The stock has a market capitalization of $622.87 billion, a P/E ratio of 49.82, a PEG ratio of 2.63 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same period 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, research analysts expect that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.56%. Broadcom’s payout ratio is currently 77.84%.

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.