B. Riley Wealth Advisors Inc. Reduces Stake in Broadcom Inc. (NASDAQ:AVGO)

B. Riley Wealth Advisors Inc. reduced its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,117 shares of the semiconductor manufacturer's stock after selling 22,570 shares during the quarter. Broadcom accounts for about 0.9% of B. Riley Wealth Advisors Inc.'s investment portfolio, making the stock its 12th largest holding. B. Riley Wealth Advisors Inc.'s holdings in Broadcom were worth $26,920,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AVGO. KFA Private Wealth Group LLC increased its stake in Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock valued at $407,000 after acquiring an additional 42 shares during the last quarter. Bryant Woods Investment Advisors LLC increased its stake in shares of Broadcom by 3.5% in the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock valued at $305,000 after purchasing an additional 45 shares during the last quarter. Marest Capital LLC raised its holdings in shares of Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock worth $1,052,000 after buying an additional 46 shares in the last quarter. Register Financial Advisors LLC boosted its stake in Broadcom by 1.3% in the fourth quarter. Register Financial Advisors LLC now owns 3,693 shares of the semiconductor manufacturer's stock valued at $856,000 after buying an additional 47 shares in the last quarter. Finally, SlateStone Wealth LLC increased its position in Broadcom by 0.3% during the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock worth $3,207,000 after purchasing an additional 47 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 800 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the transaction, the director now owns 26,182 shares of the company's stock, valued at approximately $6,026,834.58. The trade was a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock valued at $131,249,694 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $6.93 during midday trading on Tuesday, reaching $235.65. 17,906,364 shares of the stock were exchanged, compared to its average volume of 31,055,312. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a market cap of $1.11 trillion, a price-to-earnings ratio of 192.21, a PEG ratio of 2.29 and a beta of 1.04. The firm has a 50-day simple moving average of $191.49 and a two-hundred day simple moving average of $201.86.

Broadcom declared that its board has approved a stock repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.00%. Broadcom's dividend payout ratio is presently 113.46%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AVGO shares. William Blair reissued an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Morgan Stanley upped their price objective on Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Truist Financial boosted their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a report on Friday, March 7th. KeyCorp raised their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Benchmark reaffirmed a "buy" rating and set a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

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.