Forza Wealth Management LLC Decreases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Forza Wealth Management LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO) by 21.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,130 shares of the semiconductor manufacturer’s stock after selling 300 shares during the quarter. Forza Wealth Management LLC’s holdings in Broadcom were worth $1,498,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Pathway Financial Advisors LLC lifted its stake in Broadcom by 11.1% in the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock worth $1,041,000 after purchasing an additional 93 shares in the last quarter. RMR Wealth Builders lifted its stake in Broadcom by 6.5% in the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after purchasing an additional 388 shares in the last quarter. Alpha Omega Wealth Management LLC increased its holdings in shares of Broadcom by 66.6% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock worth $4,756,000 after buying an additional 1,704 shares during the last quarter. CI Investments Inc. increased its holdings in shares of Broadcom by 89.4% during the 3rd quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock worth $114,221,000 after buying an additional 64,912 shares during the last quarter. Finally, NatWest Group plc increased its holdings in shares of Broadcom by 8.2% during the 4th quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock worth $9,263,000 after buying an additional 631 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.4 %

Shares of Broadcom stock traded down $5.45 during trading on Monday, hitting $1,338.62. 1,336,653 shares of the stock were exchanged, compared to its average volume of 2,915,600. The stock has a market cap of $620.34 billion, a price-to-earnings ratio of 49.62, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The firm’s 50-day moving average price is $1,308.57 and its 200 day moving average price is $1,140.88. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the previous year, the company earned $9.83 EPS. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 1.57%. Broadcom’s dividend payout ratio is presently 77.84%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Oppenheimer restated an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. UBS Group raised their price target on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Susquehanna lifted their target price 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, Mizuho lifted their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.