Masso Torrence Wealth Management Inc. Sells 30 Shares of Broadcom Inc. (NASDAQ:AVGO)

Masso Torrence Wealth Management Inc. decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,807 shares of the semiconductor manufacturer’s stock after selling 30 shares during the quarter. Broadcom comprises about 2.1% of Masso Torrence Wealth Management Inc.’s portfolio, making the stock its 15th biggest holding. Masso Torrence Wealth Management Inc.’s holdings in Broadcom were worth $3,133,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Pathway Financial Advisors LLC lifted its holdings in Broadcom by 11.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after purchasing an additional 93 shares during the last quarter. RMR Wealth Builders grew 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 valued at $5,284,000 after buying an additional 388 shares during the last quarter. Czech National Bank lifted its position in Broadcom by 46.1% during the third quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock worth $59,909,000 after acquiring an additional 22,774 shares during the last quarter. Alpha Omega Wealth Management LLC increased its stake in shares of Broadcom by 66.6% during the fourth quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock worth $4,756,000 after purchasing an additional 1,704 shares during the period. Finally, CI Investments Inc. boosted its stake in Broadcom by 89.4% in the 3rd quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock valued at $114,221,000 after purchasing an additional 64,912 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kenneth Hao sold 9,160 shares of the 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 transaction of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 in the last 90 days. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on AVGO shares. Benchmark reiterated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. Barclays boosted their price target on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. UBS Group increased their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, Cantor Fitzgerald increased their target price on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Stock Up 0.2 %

NASDAQ AVGO traded up $2.31 on Wednesday, reaching $1,251.50. The company had a trading volume of 1,004,884 shares, compared to its average volume of 2,927,004. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company’s fifty day moving average is $1,304.25 and its 200 day moving average is $1,128.64. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The stock has a market capitalization of $579.97 billion, a P/E ratio of 46.86, a P/E/G ratio of 2.50 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating 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 company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the prior year, the company posted $9.83 earnings per share. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. Sell-side analysts anticipate that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company 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 was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.68%. Broadcom’s dividend payout ratio is currently 77.84%.

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.