Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Baldwin Investment Management LLC

Baldwin Investment Management LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,404 shares of the semiconductor manufacturer's stock after selling 1,974 shares during the quarter. Broadcom accounts for about 2.4% of Baldwin Investment Management LLC's portfolio, making the stock its 2nd largest position. Baldwin Investment Management LLC's holdings in Broadcom were worth $18,409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Canton Hathaway LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter worth $26,000. Sellwood Investment Partners LLC acquired a new stake in Broadcom during the 4th quarter worth $32,000. Bellevue Asset Management LLC acquired a new position in Broadcom in the fourth quarter valued at $33,000. Finally, Synergy Investment Management LLC purchased a new position in shares of Broadcom during the fourth quarter worth about $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on AVGO shares. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Barclays reduced their price objective on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Benchmark restated a "buy" rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Citigroup reduced their price target on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Morgan Stanley raised their price objective on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $229.48.

Broadcom Price Performance

Shares of AVGO traded down $0.63 during trading hours on Tuesday, reaching $200.09. 16,207,992 shares of the company traded hands, compared to its average volume of 31,147,095. The stock has a market capitalization of $940.81 billion, a PE ratio of 163.21, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The stock has a fifty day simple moving average of $181.97 and a 200 day simple moving average of $196.86. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two 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.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend 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 presently 113.46%.

Broadcom announced that its board has approved a share 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 generally an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This represents a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76 % 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 valued at $131,065,542 over the last 90 days. Insiders own 2.00% of the company's stock.

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.