Modern Wealth Management LLC Lowers Holdings in Broadcom Inc. (NASDAQ:AVGO)

Modern Wealth Management LLC lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,862 shares of the semiconductor manufacturer's stock after selling 2,099 shares during the period. Modern Wealth Management LLC's holdings in Broadcom were worth $4,433,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AVGO. Central Pacific Bank Trust Division grew its holdings in shares of Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock worth $4,858,000 after purchasing an additional 3,707 shares in the last quarter. Wolff Financial Management LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $244,000. Strait & Sound Wealth Management LLC grew its position in Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock worth $1,371,000 after acquiring an additional 7,095 shares during the last quarter. Motive Wealth Advisors grew its holdings in shares of Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock worth $1,066,000 after purchasing an additional 4,209 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in Broadcom by 969.3% during the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer's stock worth $66,696,000 after acquiring an additional 350,485 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

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Broadcom Stock Down 1.7 %

NASDAQ:AVGO traded down $2.87 on Friday, hitting $169.12. The stock had a trading volume of 30,361,772 shares, compared to its average volume of 30,371,173. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm's fifty day simple moving average is $209.48 and its two-hundred day simple moving average is $195.91. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market cap of $795.19 billion, a P/E ratio of 137.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.40%. Broadcom's dividend payout ratio is currently 113.46%.

Analyst Ratings Changes

Several research analysts recently issued reports on AVGO shares. Truist Financial raised their target price on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Jefferies Financial Group raised their price objective on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Barclays upped their target price on Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, January 17th. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Finally, Bank of America boosted their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.48.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 785,976 shares of company stock valued at $147,912,102. 2.00% of the stock is owned by insiders.

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.