Ancora Advisors LLC Has $141.10 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Ancora Advisors LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 608,626 shares of the semiconductor manufacturer's stock after selling 50,587 shares during the quarter. Broadcom makes up approximately 3.1% of Ancora Advisors LLC's holdings, making the stock its 3rd largest position. Ancora Advisors LLC's holdings in Broadcom were worth $141,104,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Broadcom in the fourth quarter worth about $16,893,010,000. Franklin Resources Inc. grew its stake in shares of Broadcom by 1,114.6% in the 3rd quarter. Franklin Resources Inc. now owns 21,113,921 shares of the semiconductor manufacturer's stock worth $3,849,270,000 after buying an additional 19,375,547 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Broadcom by 46.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock valued at $11,018,089,000 after buying an additional 15,171,849 shares in the last quarter. GQG Partners LLC boosted its holdings in Broadcom by 200.0% in the fourth quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock worth $2,367,819,000 after acquiring an additional 6,809,245 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after acquiring an additional 6,573,204 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity

In related news, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock worth $131,065,542 over the last 90 days. Corporate insiders own 2.00% of the company's stock.

Broadcom Price Performance

AVGO stock opened at $203.64 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company's fifty day moving average price is $182.21 and its 200-day moving average price is $196.48. Broadcom Inc. has a one year low of $124.71 and a one year high of $251.88. The company has a market capitalization of $957.50 billion, a PE ratio of 166.10, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom announced that its board has authorized a share buyback program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AVGO. KeyCorp upped their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a report on Wednesday. Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. Citigroup cut their target price on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, William Blair restated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $229.48.

Broadcom 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.

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