Brown Advisory Inc. Sells 1,702 Shares of Broadcom Inc. (NASDAQ:AVGO)

Brown Advisory Inc. lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 241,104 shares of the semiconductor manufacturer's stock after selling 1,702 shares during the period. Brown Advisory Inc.'s holdings in Broadcom were worth $55,898,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in AVGO. Norges Bank purchased a new stake in shares of Broadcom during the 4th quarter worth approximately $16,893,010,000. Price T Rowe Associates Inc. MD increased its position in Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock worth $11,018,089,000 after purchasing an additional 15,171,849 shares during the last quarter. GQG Partners LLC raised its stake in Broadcom by 200.0% during the fourth quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock valued at $2,367,819,000 after purchasing an additional 6,809,245 shares in the last quarter. Vanguard Group Inc. lifted its position in Broadcom by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after purchasing an additional 6,573,204 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock worth $1,238,966,000 after buying an additional 6,540,800 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 3.2 %

NASDAQ:AVGO opened at $203.64 on Monday. 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 $127.51 and a 1-year high of $251.88. The company has a 50-day moving average of $182.21 and a 200 day moving average of $196.72. The firm has a market cap of $957.50 billion, a PE ratio of 166.10, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid 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 1.16%. Broadcom's dividend payout ratio is presently 113.46%.

Broadcom announced that its Board of Directors has approved a stock repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVGO. William Blair restated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Truist Financial upped their price objective on Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Citigroup dropped their target price on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a report on Friday, April 11th. Rosenblatt Securities restated a "buy" rating and set a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Finally, Barclays dropped their price objective on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $229.48.

Insider Activity at Broadcom

In other Broadcom news, 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 transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the firm'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 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 have sold a total of 719,776 shares of company stock valued at $131,065,542 over the last ninety days. 2.00% of the stock is owned by company insiders.

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.

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