Taylor & Morgan Wealth Management LLC Sells 1,595 Shares of Broadcom Inc. (NASDAQ:AVGO)

Taylor & Morgan Wealth Management LLC decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,457 shares of the semiconductor manufacturer's stock after selling 1,595 shares during the quarter. Broadcom comprises about 2.0% of Taylor & Morgan Wealth Management LLC's investment portfolio, making the stock its 14th biggest holding. Taylor & Morgan Wealth Management LLC's holdings in Broadcom were worth $2,888,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Castleview Partners LLC increased its holdings in shares of Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. boosted its position in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 135 shares during the last quarter. JDM Financial Group LLC increased its holdings in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after buying an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Broadcom in the 4th quarter worth about $37,000. Finally, Tsfg LLC lifted its stake in Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 204 shares during the period. 76.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research reports. Morgan Stanley raised their target price on shares of Broadcom from $233.00 to $265.00 and gave the stock an "overweight" rating in a report on Friday, December 20th. Hsbc Global Res upgraded Broadcom to a "hold" rating in a research note on Tuesday, December 3rd. Jefferies Financial Group lifted their price objective on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Mizuho increased their target price on Broadcom from $245.00 to $260.00 and gave the company an "outperform" rating in a report on Friday, January 10th. Finally, Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $225.83.

Insider Activity

In related news, Director Harry L. You sold 6,540 shares of the stock in a transaction dated 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares of the company's stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded up $8.03 during mid-day trading on Monday, reaching $237.44. The stock had a trading volume of 31,036,592 shares, compared to its average volume of 41,590,264. The company has a market cap of $1.11 trillion, a P/E ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The business's 50 day moving average price is $202.01 and its 200 day moving average price is $178.14. 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 Inc. has a 1 year low of $112.19 and a 1 year high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating 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 period in the prior year, the company earned $0.98 EPS. The company's quarterly revenue was up 51.2% compared to the same quarter last year. Research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 dividend yield of 0.99%. Broadcom's payout ratio is 192.50%.

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.