Aristotle Atlantic Partners LLC Has $115.40 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Aristotle Atlantic Partners LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 497,755 shares of the semiconductor manufacturer's stock after selling 24,643 shares during the quarter. Broadcom accounts for approximately 3.6% of Aristotle Atlantic Partners LLC's investment portfolio, making the stock its 6th biggest holding. Aristotle Atlantic Partners LLC's holdings in Broadcom were worth $115,400,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arrowroot Family Office LLC purchased a new position in Broadcom during the fourth quarter worth approximately $218,000. Aspire Growth Partners LLC acquired a new stake in Broadcom during the fourth quarter worth about $800,000. Albar Capital Partners LLP purchased a new stake in shares of Broadcom in the 4th quarter valued at approximately $5,419,000. Allegheny Financial Group raised its position in shares of Broadcom by 0.6% during the 4th quarter. Allegheny Financial Group now owns 10,006 shares of the semiconductor manufacturer's stock valued at $2,320,000 after buying an additional 59 shares during the period. Finally, 1248 Management LLC acquired a new position in Broadcom in the fourth quarter valued at approximately $351,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction 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 approximately $95,564,585.40. This represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the transaction, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. This trade represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 719,776 shares of company stock valued at $131,065,542. Company insiders own 2.00% of the company's stock.

Broadcom Stock Performance

NASDAQ:AVGO traded down $2.92 during trading hours on Monday, reaching $200.72. 13,991,115 shares of the stock were exchanged, compared to its average volume of 31,146,852. Broadcom Inc. has a 52 week low of $127.51 and a 52 week 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 stock has a market capitalization of $943.78 billion, a P/E ratio of 163.72, a P/E/G ratio of 2.29 and a beta of 1.04. The firm has a 50 day simple moving average of $182.21 and a 200-day simple moving average of $196.72.

Broadcom declared that its Board of Directors has authorized a stock repurchase 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 repurchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.18%. Broadcom's dividend payout ratio (DPR) is 113.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AVGO shares. Benchmark reaffirmed a "buy" rating and issued a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Citigroup reduced their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Barclays lowered their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, William Blair reissued an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $229.48.

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.