Balboa Wealth Partners Has $2.61 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Balboa Wealth Partners reduced its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,263 shares of the semiconductor manufacturer’s stock after selling 1,640 shares during the quarter. Broadcom accounts for about 0.6% of Balboa Wealth Partners’ holdings, making the stock its 27th biggest position. Balboa Wealth Partners’ holdings in Broadcom were worth $2,611,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. KeyCorp raised their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. William Blair reissued an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Mizuho dropped their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $194.23 on Thursday. The company has a 50 day moving average of $219.67 and a 200 day moving average of $193.45. The stock has a market cap of $913.26 billion, a P/E ratio of 158.43, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 earnings per share. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.22%. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Activity at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

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.