Broadcom Inc. (NASDAQ:AVGO) Holdings Reduced by Bessemer Group Inc.

Bessemer Group Inc. trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,825,091 shares of the semiconductor manufacturer's stock after selling 290,658 shares during the period. Broadcom makes up approximately 2.2% of Bessemer Group Inc.'s holdings, making the stock its 8th biggest holding. Bessemer Group Inc. owned 0.12% of Broadcom worth $1,350,489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Canton Hathaway LLC acquired a new position in Broadcom during the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $26,000. JDM Financial Group LLC increased its holdings in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock valued at $32,000 after acquiring an additional 172 shares in the last quarter. Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $32,000. Finally, Bellevue Asset Management LLC acquired a new stake in Broadcom in the 4th quarter worth approximately $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction that occurred on 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 sale, the director now owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AVGO shares. Morgan Stanley upped their price target on shares of Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. William Blair reissued an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Truist Financial increased their price objective on Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a report on Friday, March 7th. Finally, Barclays lifted their target price on Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $231.68.

Broadcom Price Performance

NASDAQ AVGO traded up $9.64 on Friday, hitting $181.94. The company had a trading volume of 33,932,459 shares, compared to its average volume of 31,364,653. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market capitalization of $855.47 billion, a PE ratio of 148.40, a PEG ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The company's fifty day moving average price is $195.52 and its 200-day moving average price is $196.11.

Broadcom declared that its board has authorized a share repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.30%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

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.