FourThought Financial Partners LLC Has $18.84 Million Position in Broadcom Inc. (NASDAQ:AVGO)

FourThought Financial Partners LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,881 shares of the semiconductor manufacturer’s stock after selling 373 shares during the period. Broadcom accounts for 2.4% of FourThought Financial Partners LLC’s portfolio, making the stock its 4th biggest position. FourThought Financial Partners LLC’s holdings in Broadcom were worth $18,843,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Stuart Chaussee & Associates Inc. bought a new position in shares of Broadcom during the fourth quarter worth about $25,000. PSI Advisors LLC increased its stake in shares of Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $29,000. CKW Financial Group bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $30,000. Finally, Bfsg LLC acquired a new position in shares of Broadcom during the fourth quarter worth approximately $35,000. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock valued at $40,306,667 in the last three months. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 3.2 %

NASDAQ:AVGO traded up $39.54 on Friday, hitting $1,278.11. 2,489,755 shares of the company’s stock traded hands, compared to its average volume of 2,435,058. The company has a market cap of $592.30 billion, a PE ratio of 47.37, a price-to-earnings-growth ratio of 2.52 and a beta of 1.25. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The firm has a 50-day moving average price of $1,308.66 and a 200-day moving average price of $1,147.78.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.83 EPS. Equities analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.64%. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of analyst reports. Barclays boosted their price target on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. UBS Group raised their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Evercore ISI assumed coverage on shares of Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twenty 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 $1,285.41.

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.