Cullen Investment Group LTD. Has $13.62 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Cullen Investment Group LTD. lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,366 shares of the semiconductor manufacturer's stock after selling 2,079 shares during the quarter. Broadcom accounts for approximately 2.1% of Cullen Investment Group LTD.'s holdings, making the stock its 8th biggest holding. Cullen Investment Group LTD.'s holdings in Broadcom were worth $13,623,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. KFA Private Wealth Group LLC boosted its holdings 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 acquiring an additional 42 shares during the last quarter. Bryant Woods Investment Advisors LLC boosted its holdings in Broadcom by 3.5% in the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock valued at $305,000 after acquiring an additional 45 shares during the last quarter. Marest Capital LLC boosted its holdings in Broadcom by 1.0% in the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock valued at $1,052,000 after acquiring an additional 46 shares during the last quarter. Register Financial Advisors LLC boosted its holdings in Broadcom by 1.3% in the fourth quarter. Register Financial Advisors LLC now owns 3,693 shares of the semiconductor manufacturer's stock valued at $856,000 after acquiring an additional 47 shares during the last quarter. Finally, SlateStone Wealth LLC boosted its holdings in shares of Broadcom by 0.3% during the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock worth $3,207,000 after buying an additional 47 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the transaction, the director now owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This represents a 3.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

AVGO traded down $2.47 during trading hours on Friday, hitting $239.50. The stock had a trading volume of 27,045,094 shares, compared to its average volume of 30,873,614. The company's fifty day simple moving average is $195.38 and its 200 day simple moving average is $203.66. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $251.88. The stock has a market cap of $1.13 trillion, a PE ratio of 195.35, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. 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 declared that its Board of Directors has approved a stock buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are 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. This represents a $2.36 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is currently 113.46%.

Analyst Ratings Changes

AVGO has been the topic of a number of research analyst reports. Barclays cut their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Redburn Atlantic assumed coverage on Broadcom in a research report on Wednesday. They set a "buy" rating and a $301.00 target price on the stock. Citigroup lowered their target price on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, KeyCorp upped their target price on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $238.77.

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.