Robertson Stephens Wealth Management LLC Reduces Stake in Broadcom Inc. (NASDAQ:AVGO)

Robertson Stephens Wealth Management LLC has reduced its investment in Broadcom Inc. (NASDAQ:AVGO) by 14.7% during the 4th quarter. This information was revealed through a recent filing with the Securities and Exchange Commission (SEC). After selling 4,369 shares of the semiconductor manufacturer, the firm now holds a total of 25,272 shares, valued at approximately $5,859,000, according to their latest disclosure.

Institutional Investor Activity

In addition to Robertson Stephens, other institutional investors have also been active with Broadcom shares. For instance, Castleview Partners LLC saw a significant increase in its holdings by 1,030.8% in the third quarter, now owning 147 shares worth $25,000. Similarly, Pin Oak Investment Advisors Inc. raised its position by 900.0%, acquiring a total of 150 shares, also valued at $25,000.

JDM Financial Group LLC increased its stake by an impressive 1,323.1%, now owning 185 shares valued at $32,000, after securing an additional 172 shares. Retirement Wealth Solutions LLC made a new investment during the fourth quarter worth approximately $37,000. Lastly, Tsfg LLC grew its investment by 1,073.7%, ending the quarter with 223 shares worth $38,000. Collectively, institutional investors hold 76.43% of Broadcom's stock.

Insider Transactions

On the insider trading front, Director Eddy W. Hartenstein sold 4,000 shares on January 8th at an average price of $229.64, which totaled around $918,560. Following this sale, he retains 46,400 shares valued at around $10,655,296, reflecting a 7.94% decrease in his ownership. Similarly, insider Charlie B. Kawwas sold 40,000 shares on January 2nd at an average price of $231.98, generating about $9,279,200 in sales, and now holds 696,730 shares valued at approximately $161,627,425.40, marking a decrease of 5.43% in his stake. So far this quarter, insiders have sold a total of 191,278 shares worth $44,964,800, with insiders owning just 2.00% of the stock.

Analyst Ratings and Forecasts

On Wall Street, several analysts have provided their insights regarding Broadcom’s future performance. HSBC Global Research upgraded Broadcom to a "hold" rating on December 3rd. Furthermore, Piper Sandler adjusted their target price for Broadcom from $200.00 to $250.00, issuing an "overweight" rating. Deutsche Bank increased their estimate from $190.00 to $240.00 with a "buy" rating. Additionally, Robert W. Baird upped the price target from $195.00 to $210.00 while maintaining an "outperform" rating. Lastly, Mizuho raised their price objective from $245.00 to $260.00, also giving an "outperform" rating. According to MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $225.04.

Broadcom’s Financial Performance

Broadcom’s stock opened at $224.87 recently. The company holds a market capitalization of about $1.05 trillion, with a price-to-earnings (P/E) ratio of 183.42 and a P/E to growth (P/E/G) ratio of 2.42. Its shares have fluctuated between a one-year low of $119.76 and a high of $251.88. The firm’s debt-to-equity ratio stands at 0.98, with a current ratio of 1.17 and a quick ratio of 1.07. Notably, Broadcom reported earnings of $1.42 per share last quarter, surpassing the average analyst estimates of $1.39, while generating revenues of $14.05 billion.

Dividends Announced

Recently, Broadcom declared a quarterly dividend, which was paid out on December 31st. Shareholders who were on record as of December 23rd received a dividend of $0.59. This corresponds to an annualized dividend of $2.36 and a dividend yield of 1.05%, which represents an increase from the previous dividend of $0.53. Currently, Broadcom has a dividend payout ratio of 192.50%.

About Broadcom Inc.

Broadcom Inc. designs and supplies a wide range of semiconductor devices, focusing on complex digital and mixed-signal complementary metal-oxide-semiconductor (CMOS) products and analog devices. The company operates within two main segments: Semiconductor Solutions and Infrastructure Software.

finance, investing, Broadcom