Broadcom Inc. (NASDAQ:AVGO) is Arnhold LLC's 5th Largest Position

Arnhold LLC cut its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 21.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 136,939 shares of the semiconductor manufacturer's stock after selling 37,471 shares during the quarter. Broadcom makes up approximately 3.1% of Arnhold LLC's investment portfolio, making the stock its 5th largest holding. Arnhold LLC's holdings in Broadcom were worth $31,748,000 at the end of the most recent reporting period.

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

Broadcom Trading Down 0.0 %

Shares of NASDAQ:AVGO traded down $0.06 during mid-day trading on Tuesday, reaching $192.41. 5,071,612 shares of the company were exchanged, compared to its average volume of 31,151,124. The firm has a market cap of $904.71 billion, a price-to-earnings ratio of 157.10, a P/E/G ratio of 2.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1 year low of $122.33 and a 1 year high of $251.88. The firm's 50-day simple moving average is $183.64 and its 200 day simple moving average is $196.24.

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

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. Broadcom's dividend payout ratio is presently 113.46%.

Insider Buying and Selling

In other news, Director Henry Samueli sold 663,976 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value 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 trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the business'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 transaction, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 719,776 shares of company stock valued at $131,065,542. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AVGO shares. Rosenblatt Securities reissued a "buy" rating and set a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Citigroup reduced their target price on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Truist Financial lifted their target price on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Finally, Barclays reduced their price target on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.