Leeward Financial Partners LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 36.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,743 shares of the semiconductor manufacturer's stock after selling 6,292 shares during the period. Leeward Financial Partners LLC's holdings in Broadcom were worth $2,491,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. KFA Private Wealth Group LLC boosted its position in Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock valued at $407,000 after buying an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA raised its stake in shares of Broadcom by 2.7% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock valued at $391,000 after acquiring an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC boosted its holdings in shares of Broadcom by 3.5% in the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock worth $305,000 after acquiring an additional 45 shares in the last quarter. Marest Capital LLC boosted its holdings in shares of Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock worth $1,052,000 after acquiring an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC grew its position in Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock worth $2,947,000 after acquiring an additional 47 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders have sold a total of 697,976 shares of company stock worth $127,336,102 over the last ninety days. Company insiders own 2.00% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on AVGO. Jefferies Financial Group raised their target price on Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Evercore ISI boosted their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Barclays raised their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Mizuho reduced their price objective on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Finally, TD Cowen lifted their target price on Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $231.48.
Check Out Our Latest Report on AVGO
Broadcom Stock Up 5.5 %
Shares of AVGO traded up $8.51 on Tuesday, hitting $162.65. The company's stock had a trading volume of 27,408,208 shares, compared to its average volume of 30,752,887. 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 firm has a market capitalization of $764.75 billion, a price-to-earnings ratio of 131.96, a P/E/G ratio of 2.29 and a beta of 1.05. The firm's fifty day moving average price is $200.61 and its 200-day moving average price is $196.34. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.
Broadcom announced that its board has initiated a share buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.
Broadcom Dividend Announcement
The business also recently disclosed 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. This represents a $2.36 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio is 113.46%.
Broadcom Company Profile
(
Free Report)
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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