Williams Jones Wealth Management LLC. Sells 4,472 Shares of Broadcom Inc. (NASDAQ:AVGO)

Williams Jones Wealth Management LLC. trimmed its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 556,757 shares of the semiconductor manufacturer's stock after selling 4,472 shares during the period. Broadcom comprises approximately 1.6% of Williams Jones Wealth Management LLC.'s investment portfolio, making the stock its 20th biggest position. Williams Jones Wealth Management LLC.'s holdings in Broadcom were worth $129,078,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. Norges Bank acquired a new stake in Broadcom during the 4th quarter worth about $16,893,010,000. Price T Rowe Associates Inc. MD boosted its position 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. GQG Partners LLC boosted its position in shares of Broadcom by 200.0% during the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock worth $2,367,819,000 after purchasing an additional 6,809,245 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after purchasing an additional 6,573,204 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Broadcom by 27.4% during the 4th 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 in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Justine Page sold 800 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now owns 25,380 shares in the company, valued at $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction dated Monday, March 24th. The stock was 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 approximately $95,564,585.40. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 over the last three months. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $1.81 during mid-day trading on Friday, reaching $228.72. 15,375,203 shares of the company were exchanged, compared to its average volume of 31,107,983. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88. 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 stock has a market capitalization of $1.08 trillion, a PE ratio of 186.56, a PEG ratio of 2.29 and a beta of 1.04. The company's 50 day moving average price is $190.82 and its 200 day moving average price is $201.42.

Broadcom announced that its board has approved a share buyback plan on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.03%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio is presently 113.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AVGO shares. Truist Financial increased their price objective on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Bank of America cut their price objective on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $229.48.

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.