Inlet Private Wealth LLC Sells 65 Shares of Broadcom Inc. (NASDAQ:AVGO)

Inlet Private Wealth LLC decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,817 shares of the semiconductor manufacturer’s stock after selling 65 shares during the quarter. Inlet Private Wealth LLC’s holdings in Broadcom were worth $1,117,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in AVGO. State Street Corp boosted its position in shares of Broadcom by 948.5% during the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after acquiring an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after acquiring an additional 89,975,941 shares in the last quarter. FMR LLC boosted its position in shares of Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after acquiring an additional 82,998,328 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after acquiring an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Broadcom by 975.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after acquiring an additional 30,674,902 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. TD Cowen boosted their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Evercore ISI boosted their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Truist Financial boosted their price target on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, UBS Group boosted their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.04.

View Our Latest Report on AVGO

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the company’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 transaction 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. This trade represents a 69.90 % 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.

Broadcom Trading Down 1.6 %

AVGO opened at $217.73 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market cap of $1.02 trillion, a price-to-earnings ratio of 177.60, a price-to-earnings-growth ratio of 2.31 and a beta of 1.03. The firm has a 50 day simple moving average of $213.41 and a 200 day simple moving average of $182.20. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. 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 prior year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was up 51.2% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 191.87%.

Broadcom Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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