Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Copeland Capital Management LLC

Copeland Capital Management LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,606 shares of the semiconductor manufacturer's stock after selling 26,072 shares during the period. Copeland Capital Management LLC's holdings in Broadcom were worth $22,370,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AVGO. Norges Bank acquired a new position in shares of Broadcom during the fourth quarter worth $16,893,010,000. GAMMA Investing LLC increased its stake in shares of Broadcom by 18,179.3% in the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after buying an additional 17,181,652 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of 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 buying an additional 15,171,849 shares during the last quarter. GQG Partners LLC increased its stake in shares of Broadcom by 200.0% in the fourth quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock worth $2,367,819,000 after buying an additional 6,809,245 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after buying an additional 6,573,204 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 117,758 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the sale, the chief executive officer now owns 1,014,152 shares of the company's stock, valued at $256,489,182.32. This represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the sale, the director now directly owns 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 811,716 shares of company stock valued at $209,906,771 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 0.3%

Broadcom stock opened at $269.35 on Friday. The firm has a market capitalization of $1.27 trillion, a P/E ratio of 100.88, a P/E/G ratio of 1.92 and a beta of 1.11. The company has a 50-day simple moving average of $229.43 and a 200-day simple moving average of $215.50. Broadcom Inc. has a one year low of $128.50 and a one year high of $271.85. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.96 earnings per share. As a group, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

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

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's payout ratio is currently 88.39%.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research analyst reports. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target for the company in a research note on Tuesday, June 24th. Oppenheimer lifted their price target on shares of Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Evercore ISI restated an "outperform" rating and issued a $304.00 price target (up previously from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, June 6th. Two research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Broadcom has a consensus rating of "Buy" and an average target price of $281.25.

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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