Kingswood Wealth Advisors LLC Trims Position in Broadcom Inc. (NASDAQ:AVGO)

Kingswood Wealth Advisors LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 28.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,632 shares of the semiconductor manufacturer's stock after selling 22,126 shares during the quarter. Broadcom makes up about 1.0% of Kingswood Wealth Advisors LLC's holdings, making the stock its 15th largest position. Kingswood Wealth Advisors LLC's holdings in Broadcom were worth $12,666,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. NCP Inc. lifted its holdings in shares of Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer's stock worth $747,000 after acquiring an additional 400 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Broadcom by 257.1% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,167 shares of the semiconductor manufacturer's stock worth $19,535,000 after buying an additional 8,760 shares during the period. New Century Financial Group LLC acquired a new stake in Broadcom in the second quarter valued at approximately $376,000. RiverFront Investment Group LLC acquired a new stake in Broadcom during the 2nd quarter valued at approximately $2,778,000. Finally, Farmers National Bank raised its stake in Broadcom by 3.7% during the second quarter. Farmers National Bank now owns 5,919 shares of the semiconductor manufacturer's stock valued at $9,503,000 after buying an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 4.6 %

Shares of AVGO traded up $9.41 during trading hours on Thursday, hitting $215.76. The stock had a trading volume of 29,322,403 shares, compared to its average volume of 30,650,025. The firm has a 50 day simple moving average of $211.24 and a 200-day simple moving average of $181.27. The firm has a market capitalization of $1.01 trillion, a P/E ratio of 175.98, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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 company 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 company posted $0.98 earnings per share. The firm's revenue for the quarter was up 51.2% on a year-over-year basis. Sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.09%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom's payout ratio is presently 192.50%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AVGO shares. Citigroup upped their price objective on shares of Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Evercore ISI boosted their target price on Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Benchmark reiterated a "buy" rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Mizuho lifted their price objective on shares of Broadcom from $245.00 to $260.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $225.04.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the company's stock in a transaction on 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 completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have 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.