FourThought Financial Partners LLC Has $25.03 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• FourThought Financial Partners LLC reduced its holdings in Broadcom Inc. by 2.3%, now owning 149,485 shares valued at approximately $25 million, making it their 4th largest investment.
• Institutional ownership of Broadcom stands at 76.43%, with several large investors significantly increasing their positions, including GAMMA Investing LLC, which raised its stake by over 18,000%.
• Broadcom recently reported earnings that surpassed expectations, with revenue of $15 billion and an earnings per share of $1.58, reflecting a 20.2% year-over-year growth.

FourThought Financial Partners LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 149,485 shares of the semiconductor manufacturer's stock after selling 3,459 shares during the period. Broadcom makes up 2.6% of FourThought Financial Partners LLC's investment portfolio, making the stock its 4th biggest holding. FourThought Financial Partners LLC's holdings in Broadcom were worth $25,028,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in AVGO. GAMMA Investing LLC lifted its stake in Broadcom by 18,179.3% in the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after buying an additional 17,181,652 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Broadcom by 46.9% during the 4th 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 in the last quarter. Franklin Resources Inc. boosted its position in Broadcom by 27.4% during the fourth quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer's stock worth $6,236,011,000 after purchasing an additional 5,783,988 shares during the period. Northern Trust Corp increased its position in Broadcom by 12.0% during the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after buying an additional 5,258,925 shares during the period. Finally, APG Asset Management N.V. lifted its position in shares of Broadcom by 609.4% during the 4th quarter. APG Asset Management N.V. now owns 4,379,348 shares of the semiconductor manufacturer's stock valued at $980,500,000 after acquiring an additional 3,762,034 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the transaction, the insider owned 415,956 shares of the company's stock, valued at $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total value of $2,528,800.00. Following the completion of the transaction, the insider directly owned 789,784 shares of the company's stock, valued at $199,720,577.92. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock valued at $217,224,641 in the last 90 days. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday, June 6th. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Truist Financial set a $295.00 price objective on Broadcom and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Susquehanna upped their price target on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom has a consensus rating of "Buy" and a consensus price target of $292.08.

Broadcom Stock Performance

NASDAQ AVGO opened at $290.18 on Friday. The stock has a market cap of $1.36 trillion, a PE ratio of 108.68, a P/E/G ratio of 2.05 and a beta of 1.12. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $292.59. The stock has a fifty day simple moving average of $260.05 and a 200-day simple moving average of $222.18.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company's revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business posted $10.96 EPS. Equities analysts anticipate 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 repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.81%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

About Broadcom

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.