Marietta Wealth Management LLC Reduces Stake in Broadcom Inc. (NASDAQ:AVGO)

Marietta Wealth Management LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,277 shares of the semiconductor manufacturer’s stock after selling 175 shares during the quarter. Broadcom makes up approximately 1.6% of Marietta Wealth Management LLC’s portfolio, making the stock its 13th biggest holding. Marietta Wealth Management LLC’s holdings in Broadcom were worth $9,239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. Macroview Investment Management LLC bought a new position in Broadcom in the 3rd quarter worth about $29,000. BKM Wealth Management LLC bought a new stake in Broadcom in the fourth quarter worth $29,000. CKW Financial Group bought a new stake in Broadcom in the fourth quarter worth $30,000. Indiana Trust & Investment Management CO bought a new stake in Broadcom in the third quarter worth $32,000. Finally, VitalStone Financial LLC lifted its stake in Broadcom by 71.4% in the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 25 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In related news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $1,367.52, for a total transaction of $3,418,800.00. Following the transaction, the insider now directly owns 44,474 shares in the company, valued at $60,819,084.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 over the last 90 days. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

AVGO stock traded up $15.24 during trading on Tuesday, reaching $1,325.93. The company had a trading volume of 657,061 shares, compared to its average volume of 2,943,843. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The firm has a 50-day simple moving average of $1,304.36 and a 200-day simple moving average of $1,110.50. The company has a market cap of $614.46 billion, a price-to-earnings ratio of 48.76, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the business posted $9.83 EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 35.95 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.58%. Broadcom’s payout ratio is currently 77.84%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AVGO. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Susquehanna upped their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Cantor Fitzgerald upped their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Finally, StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $1,281.09.

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.