Blake Schutter Theil Wealth Advisors LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 44.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,967 shares of the semiconductor manufacturer's stock after selling 2,354 shares during the quarter. Blake Schutter Theil Wealth Advisors LLC's holdings in Broadcom were worth $688,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of AVGO. State Street Corp lifted its holdings in shares of Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer's stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Broadcom by 976.6% during the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the last quarter. FMR LLC lifted its holdings in shares of Broadcom by 1,121.3% during the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer's stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Broadcom
In related news, Director Diane M. Bryant sold 15,000 shares of the firm's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares of the company's stock, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the firm's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares of the company's stock, valued at $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently weighed in on the company. KeyCorp upped their price target on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday. Hsbc Global Res raised Broadcom to a "hold" rating in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upped their target price on Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Benchmark reaffirmed a "buy" rating and issued a $255.00 target price on shares of Broadcom in a research report on Friday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and a consensus target price of $231.48.
Read Our Latest Stock Analysis on AVGO
Broadcom Stock Performance
Shares of AVGO stock traded up $15.51 during mid-day trading on Friday, reaching $194.96. The stock had a trading volume of 74,457,084 shares, compared to its average volume of 29,443,255. The firm's 50 day simple moving average is $222.28 and its 200 day simple moving average is $193.12. 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 Inc. has a one year low of $119.76 and a one year high of $251.88. The firm has a market cap of $913.85 billion, a PE ratio of 159.02, a P/E/G ratio of 2.29 and a beta of 1.01.
Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. During the same period in the prior year, the firm posted $0.98 EPS. Broadcom's quarterly revenue was up 51.2% compared to the same quarter last year. On average, analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom's payout ratio is presently 191.87%.
Broadcom Company Profile
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Free Report)
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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