Argonautica Private Wealth Management Inc. Sells 122 Shares of Broadcom Inc. (NASDAQ:AVGO)

Argonautica Private Wealth Management Inc. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,273 shares of the semiconductor manufacturer’s stock after selling 122 shares during the quarter. Broadcom makes up approximately 2.0% of Argonautica Private Wealth Management Inc.’s holdings, making the stock its 8th biggest holding. Argonautica Private Wealth Management Inc.’s holdings in Broadcom were worth $4,770,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Impact Partnership Wealth LLC raised its stake in Broadcom by 151.8% during the third quarter. Impact Partnership Wealth LLC now owns 141 shares of the semiconductor manufacturer’s stock worth $117,000 after purchasing an additional 85 shares during the period. Boston Trust Walden Corp raised its stake in Broadcom by 0.6% during the third quarter. Boston Trust Walden Corp now owns 2,381 shares of the semiconductor manufacturer’s stock worth $1,978,000 after purchasing an additional 15 shares during the period. Strategic Blueprint LLC raised its stake in shares of Broadcom by 8.1% in the 3rd quarter. Strategic Blueprint LLC now owns 1,058 shares of the semiconductor manufacturer’s stock valued at $879,000 after acquiring an additional 79 shares during the period. Washington Trust Advisors Inc. raised its stake in shares of Broadcom by 87.0% in the 3rd quarter. Washington Trust Advisors Inc. now owns 288 shares of the semiconductor manufacturer’s stock valued at $239,000 after acquiring an additional 134 shares during the period. Finally, Capital Asset Advisory Services LLC raised its stake in shares of Broadcom by 6.1% in the 3rd quarter. Capital Asset Advisory Services LLC now owns 830 shares of the semiconductor manufacturer’s stock valued at $726,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the sale, the insider now directly owns 46,974 shares in the company, valued at approximately $61,957,296.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the sale, the insider now directly owns 46,974 shares in the company, valued at approximately $61,957,296.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

NASDAQ:AVGO traded up $49.65 during mid-day trading on Friday, hitting $1,344.07. The stock had a trading volume of 2,409,983 shares, compared to its average volume of 2,322,994. The stock has a market capitalization of $622.87 billion, a price-to-earnings ratio of 49.82, a P/E/G ratio of 2.63 and a beta of 1.25. The company has a 50 day simple moving average of $1,306.70 and a 200-day simple moving average of $1,134.07. Broadcom Inc. has a 52 week low of $601.29 and a 52 week 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.

Broadcom (NASDAQ:AVGO) last issued 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 the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period last year, the firm posted $9.83 EPS. On average, research analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.56%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Benchmark reissued a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. Barclays raised their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Susquehanna raised their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report 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’s stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average 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.