Arkadios Wealth Advisors Cuts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Arkadios Wealth Advisors cut its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,897 shares of the semiconductor manufacturer's stock after selling 3,795 shares during the quarter. Broadcom comprises 0.7% of Arkadios Wealth Advisors' investment portfolio, making the stock its 22nd biggest holding. Arkadios Wealth Advisors' holdings in Broadcom were worth $12,495,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NCP Inc. boosted its stake in Broadcom by 615.4% during the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer's stock worth $747,000 after acquiring an additional 400 shares in the last quarter. AE Wealth Management LLC boosted its position in shares of Broadcom by 20.5% in the 2nd quarter. AE Wealth Management LLC now owns 4,681 shares of the semiconductor manufacturer's stock worth $7,515,000 after purchasing an additional 797 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Broadcom by 2,948.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 14,452 shares of the semiconductor manufacturer's stock worth $23,204,000 after buying an additional 13,978 shares during the last quarter. Kowal Investment Group LLC increased its position in Broadcom by 16.4% during the 2nd quarter. Kowal Investment Group LLC now owns 989 shares of the semiconductor manufacturer's stock valued at $1,588,000 after buying an additional 139 shares in the last quarter. Finally, Circle Wealth Management LLC raised its stake in Broadcom by 109.9% during the second quarter. Circle Wealth Management LLC now owns 1,146 shares of the semiconductor manufacturer's stock valued at $1,840,000 after buying an additional 600 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the business's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company's stock, valued at $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 over the last three months. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

Shares of AVGO stock traded up $8.03 during mid-day trading on Monday, reaching $237.44. 31,036,592 shares of the company's stock traded hands, compared to its average volume of 41,590,264. Broadcom Inc. has a 12 month low of $112.19 and a 12 month high of $251.88. The firm has a 50 day moving average price of $202.01 and a two-hundred day moving average price of $178.14. The firm has a market capitalization of $1.11 trillion, a PE ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly 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 business had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. The business's quarterly revenue was up 51.2% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS 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 dividend of $0.59 per share. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. Broadcom's dividend payout ratio (DPR) is presently 192.50%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent research reports. Piper Sandler increased their target price on Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Robert W. Baird lifted their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Evercore ISI raised 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. Benchmark restated a "buy" rating and issued a $255.00 price objective (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. increased their target price on Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $225.83.

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.