Broadcom Inc. (NASDAQ:AVGO) Stock Position Trimmed by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd trimmed its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 664,496 shares of the semiconductor manufacturer's stock after selling 9,872 shares during the period. Broadcom makes up 3.0% of Border to Coast Pensions Partnership Ltd's investment portfolio, making the stock its 7th largest holding. Border to Coast Pensions Partnership Ltd's holdings in Broadcom were worth $153,954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kades & Cheifetz LLC raised its holdings in shares of Broadcom by 0.8% during the 4th quarter. Kades & Cheifetz LLC now owns 6,623 shares of the semiconductor manufacturer's stock valued at $1,536,000 after buying an additional 51 shares in the last quarter. Sivia Capital Partners LLC grew its position in Broadcom by 0.5% during the fourth quarter. Sivia Capital Partners LLC now owns 9,584 shares of the semiconductor manufacturer's stock valued at $2,222,000 after acquiring an additional 52 shares during the last quarter. HCR Wealth Advisors raised its stake in shares of Broadcom by 0.4% during the fourth quarter. HCR Wealth Advisors now owns 12,322 shares of the semiconductor manufacturer's stock worth $2,857,000 after acquiring an additional 53 shares in the last quarter. Richardson Financial Services Inc. raised its stake in shares of Broadcom by 2.4% during the third quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer's stock worth $415,000 after acquiring an additional 59 shares in the last quarter. Finally, Meyer Handelman Co. lifted its holdings in shares of Broadcom by 2.0% in the 4th quarter. Meyer Handelman Co. now owns 3,073 shares of the semiconductor manufacturer's stock worth $712,000 after acquiring an additional 59 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In related news, Director Harry L. You sold 6,540 shares of the business's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the company's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

NASDAQ:AVGO traded up $8.03 during trading hours on Friday, reaching $237.44. The company had a trading volume of 31,036,592 shares, compared to its average volume of 41,590,264. The firm's 50 day moving average price is $202.01 and its 200-day moving average price is $178.14. The firm has a market cap of $1.11 trillion, a price-to-earnings ratio of 193.67, a PEG ratio of 2.35 and a beta of 1.03. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52 week low of $112.19 and a 52 week high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom's revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. On average, analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. Broadcom's dividend payout ratio is 192.50%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of analyst reports. Piper Sandler lifted their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Susquehanna increased their target price on Broadcom from $200.00 to $225.00 and gave the company a "positive" rating in a report on Friday, December 13th. Citigroup boosted their price objective on Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. TD Cowen lifted their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $225.83.

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.