Van Hulzen Asset Management LLC Reduces Holdings in Broadcom Inc. (NASDAQ:AVGO)

Van Hulzen Asset Management LLC lowered its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,779 shares of the semiconductor manufacturer's stock after selling 1,301 shares during the period. Broadcom comprises 1.4% of Van Hulzen Asset Management LLC's portfolio, making the stock its 16th largest position. Van Hulzen Asset Management LLC's holdings in Broadcom were worth $19,846,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVGO. Pathway Financial Advisors LLC increased its position in Broadcom by 11.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer's stock worth $1,041,000 after buying an additional 93 shares during the period. Todd Asset Management LLC lifted its position in shares of Broadcom by 26.3% during the 4th quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer's stock valued at $89,038,000 after acquiring an additional 16,608 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Broadcom by 3.0% in the 4th quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer's stock valued at $3,506,000 after purchasing an additional 91 shares during the period. Stegent Equity Advisors Inc. acquired a new stake in Broadcom during the 4th quarter worth about $271,000. Finally, Intrust Bank NA increased its position in shares of Broadcom by 1.7% in the fourth quarter. Intrust Bank NA now owns 6,070 shares of the semiconductor manufacturer's stock worth $6,776,000 after acquiring an additional 99 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

AVGO traded up $27.13 during trading on Friday, reaching $1,332.80. 1,629,600 shares of the company were exchanged, compared to its average volume of 2,823,864. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company has a market cap of $617.65 billion, a price-to-earnings ratio of 49.47, a P/E/G ratio of 2.60 and a beta of 1.25. Broadcom Inc. has a 12-month low of $617.99 and a 12-month high of $1,438.17. The company's 50-day moving average is $1,309.64 and its two-hundred day moving average is $1,159.94.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion for the quarter, compared to analysts' expectations of $11.79 billion. During the same period in the prior year, the company posted $9.83 EPS. The business's revenue for the quarter was up 34.2% compared to the same quarter last year. Research analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom's dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of research analyst reports. Benchmark reiterated a "buy" rating and issued a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. TD Cowen upgraded shares of Broadcom from a "market perform" rating to an "outperform" rating and increased their target price for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Cantor Fitzgerald upped their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an "overweight" rating in a report on Monday, March 4th. UBS Group boosted their target price on Broadcom to $1,480.00 and gave the stock a "buy" rating in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and set a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,285.41.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the business's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares of the company's stock, valued at approximately $220,583,976. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Kenneth Hao sold 9,160 shares of the firm's stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares of the company's stock, valued at $62,465.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,920 shares of company stock valued at $40,306,667. Corporate insiders own 2.00% of the company's stock.

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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