Fourth Dimension Wealth LLC Sells 200 Shares of Broadcom Inc. (NASDAQ:AVGO)

Fourth Dimension Wealth LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 40.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 300 shares of the semiconductor manufacturer’s stock after selling 200 shares during the quarter. Fourth Dimension Wealth LLC’s holdings in Broadcom were worth $50,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AVGO. SlateStone Wealth LLC boosted its position in shares of Broadcom by 0.3% in the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock worth $3,207,000 after purchasing an additional 47 shares in the last quarter. True Wealth Design LLC boosted its position in shares of Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock worth $165,000 after purchasing an additional 48 shares in the last quarter. Global Strategic Investment Solutions LLC boosted its position in shares of Broadcom by 1.5% in the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer’s stock worth $782,000 after purchasing an additional 50 shares in the last quarter. Cascade Financial Partners LLC boosted its position in shares of Broadcom by 1.8% in the 4th quarter. Cascade Financial Partners LLC now owns 2,882 shares of the semiconductor manufacturer’s stock worth $668,000 after purchasing an additional 50 shares in the last quarter. Finally, Samalin Investment Counsel LLC boosted its position in shares of Broadcom by 1.0% in the 4th quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer’s stock worth $1,155,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $263.77 on Wednesday. The stock has a 50-day simple moving average of $223.68 and a two-hundred day simple moving average of $213.63. The firm has a market capitalization of $1.24 trillion, a P/E ratio of 98.79, a PEG ratio of 1.81 and a beta of 1.11. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.87. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company’s revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted $10.96 EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom announced that its board has initiated a stock buyback program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.89%. Broadcom’s dividend payout ratio is presently 88.39%.

Insider Activity at Broadcom

In related news, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the transaction, the director now owns 26,182 shares in the company, valued at $6,026,834.58. The trade was a 2.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now owns 465,956 shares of the company’s stock, valued at approximately $83,872,080. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 211,468 shares of company stock worth $51,519,450 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on AVGO shares. Morgan Stanley raised their price objective on Broadcom from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, June 6th. Benchmark raised their price objective on Broadcom from $255.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, June 6th. Evercore ISI restated an “outperform” rating and issued a $304.00 target price (up previously from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Finally, Mizuho raised their target price on Broadcom from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, June 6th. Three research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $281.25.

Broadcom Company 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.