Peddock Capital Advisors LLC Trims Holdings in Broadcom Inc. (NASDAQ:AVGO)

Peddock Capital Advisors LLC reduced its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.2% during the 4th quarter, HoldingsChannel reports. The firm owned 1,115 shares of the semiconductor manufacturer’s stock after selling 126 shares during the period. Peddock Capital Advisors LLC’s holdings in Broadcom were worth $1,245,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Financial Advisors Inc increased its stake in Broadcom by 1.1% in the 4th quarter. Northern Financial Advisors Inc now owns 2,052 shares of the semiconductor manufacturer’s stock valued at $2,291,000 after buying an additional 23 shares during the period. Aviance Capital Partners LLC raised its holdings in Broadcom by 8.5% during the fourth quarter. Aviance Capital Partners LLC now owns 15,083 shares of the semiconductor manufacturer’s stock worth $16,836,000 after purchasing an additional 1,182 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in Broadcom by 28.4% in the 4th quarter. Apollon Wealth Management LLC now owns 17,543 shares of the semiconductor manufacturer’s stock valued at $19,583,000 after purchasing an additional 3,880 shares in the last quarter. Fielder Capital Group LLC acquired a new position in Broadcom during the 4th quarter worth approximately $272,000. Finally, Machina Capital S.A.S. increased its position in Broadcom by 126.1% during the 4th quarter. Machina Capital S.A.S. now owns 746 shares of the semiconductor manufacturer’s stock worth $833,000 after purchasing an additional 416 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AVGO shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. Barclays raised their price objective on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group restated a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Mizuho lifted their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Trading Up 1.2 %

Broadcom stock traded up $16.06 during trading on Wednesday, hitting $1,319.17. The company’s stock had a trading volume of 832,296 shares, compared to its average volume of 2,848,804. The stock’s fifty day moving average is $1,308.82 and its 200 day moving average is $1,157.75. 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 1-year low of $615.86 and a 1-year high of $1,438.17. The stock has a market capitalization of $611.33 billion, a price-to-earnings ratio of 49.54, a P/E/G ratio of 2.60 and a beta of 1.25.

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

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued 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 1.59%. Broadcom’s payout ratio is 77.84%.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was 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 of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Justine Page sold 110 shares of Broadcom stock in a transaction 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 sale, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by company 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.