Altrius Capital Management Inc Sells 2,968 Shares of Broadcom Inc. (NASDAQ:AVGO)

Altrius Capital Management Inc decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 48.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,189 shares of the semiconductor manufacturer’s stock after selling 2,968 shares during the period. Altrius Capital Management Inc’s holdings in Broadcom were worth $3,561,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. bought a new position in Broadcom during the 4th quarter valued at about $25,000. PSI Advisors LLC lifted its stake in Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 10 shares during the period. Macroview Investment Management LLC bought a new position in Broadcom during the 3rd quarter valued at about $29,000. BKM Wealth Management LLC bought a new position in Broadcom during the 4th quarter valued at about $29,000. Finally, CKW Financial Group bought a new position in Broadcom during the 4th quarter valued at about $30,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 110 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Justine Page sold 110 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was 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 of the company’s stock, valued at approximately $22,276,800. 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 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $5.45 during midday trading on Monday, reaching $1,338.62. 1,296,578 shares of the stock traded hands, compared to its average volume of 2,915,594. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock has a market capitalization of $620.34 billion, a PE ratio of 49.58, a P/E/G ratio of 2.74 and a beta of 1.25. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The company’s 50 day moving average is $1,306.70 and its 200 day moving average is $1,137.84.

Broadcom (NASDAQ:AVGO) last released its earnings results 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 firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same quarter last year, the business earned $9.83 EPS. The business’s revenue was up 34.2% on a year-over-year basis. On average, equities research analysts anticipate that Broadcom Inc. will post 35.96 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 dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.57%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Susquehanna upped their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Benchmark reaffirmed a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Cantor Fitzgerald upped their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.