Axa S.A. Sells 412,219 Shares of Broadcom Inc. (NASDAQ:AVGO)

AXA S.A. lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,332,147 shares of the semiconductor manufacturer's stock after selling 412,219 shares during the period. Broadcom accounts for 1.6% of AXA S.A.'s portfolio, making the stock its 8th largest position. AXA S.A.'s holdings in Broadcom were worth $540,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Canton Hathaway LLC acquired a new stake in Broadcom in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new position in Broadcom in the fourth quarter valued at $26,000. Sellwood Investment Partners LLC acquired a new stake in Broadcom in the 4th quarter valued at $32,000. Bellevue Asset Management LLC bought a new stake in Broadcom during the 4th quarter worth about $33,000. Finally, Synergy Investment Management LLC bought a new position in shares of Broadcom in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

Broadcom stock traded down $0.41 during mid-day trading on Tuesday, reaching $200.31. 10,940,803 shares of the company's stock traded hands, compared to its average volume of 31,084,275. The stock has a 50 day moving average of $181.97 and a two-hundred day moving average of $196.86. Broadcom Inc. has a 12-month low of $127.51 and a 12-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 company has a market cap of $941.86 billion, a price-to-earnings ratio of 163.39, a PEG ratio of 2.29 and a beta of 1.04.

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

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.18%. Broadcom's dividend payout ratio (DPR) is 113.46%.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction that occurred 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 sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 719,776 shares of company stock worth $131,065,542 in the last ninety days. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of research analyst reports. KeyCorp increased their price target on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Benchmark reaffirmed a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price target 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.