Nicholas Hoffman & Company LLC. Has $61.83 Million Stock Holdings in Broadcom Inc. $AVGO

Nicholas Hoffman & Company LLC. trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 178,634 shares of the semiconductor manufacturer’s stock after selling 30,040 shares during the quarter. Broadcom makes up 1.4% of Nicholas Hoffman & Company LLC.’s holdings, making the stock its 12th biggest holding. Nicholas Hoffman & Company LLC.’s holdings in Broadcom were worth $61,825,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AVGO. JCIC Asset Management Inc. acquired a new stake in shares of Broadcom during the third quarter valued at about $31,000. Miller Global Investments LLC acquired a new stake in shares of Broadcom during the fourth quarter valued at about $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom during the fourth quarter valued at about $33,000. Manning & Napier Advisors LLC acquired a new stake in shares of Broadcom during the third quarter valued at about $34,000. Finally, Family CFO Inc acquired a new position in shares of Broadcom in the fourth quarter worth approximately $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Truist Financial lifted their price objective on Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Citigroup lifted their price objective on Broadcom from $458.00 to $475.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Weiss Ratings lowered Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Wolfe Research raised Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price objective on the stock in a research note on Friday, January 30th. Finally, Morgan Stanley lifted their price objective on Broadcom from $462.00 to $470.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $435.30.

Insider Activity at Broadcom

In other news, Director Justine Page sold 2,018 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the sale, the director owned 18,164 shares of the company’s stock, valued at $6,411,892. This trade represents a 10.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider S. Ram Velaga sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the sale, the insider directly owned 57,932 shares of the company’s stock, valued at approximately $21,464,964.64. This trade represents a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 324,282 shares of company stock worth $106,425,249. Corporate insiders own 1.90% of the company’s stock.

Broadcom Trading Down 0.4%

Shares of AVGO stock opened at $428.43 on Tuesday. The company has a market cap of $2.03 trillion, a P/E ratio of 83.68, a PEG ratio of 0.89 and a beta of 1.43. Broadcom Inc. has a fifty-two week low of $215.88 and a fifty-two week high of $437.68. The stock has a 50 day simple moving average of $356.98 and a two-hundred day simple moving average of $352.45. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.03 by $0.02. The company had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.60 EPS. Research analysts forecast that Broadcom Inc. will post 9.95 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is 50.78%.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.