Bridgewater Associates LP Sells 298,143 Shares of Broadcom Inc. (NASDAQ:AVGO)

Bridgewater Associates LP reduced its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 31.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 657,290 shares of the semiconductor manufacturer's stock after selling 298,143 shares during the period. Broadcom comprises 0.7% of Bridgewater Associates LP's holdings, making the stock its 23rd largest position. Bridgewater Associates LP's holdings in Broadcom were worth $152,386,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. Central Pacific Bank Trust Division raised its holdings in Broadcom by 21.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock valued at $4,858,000 after acquiring an additional 3,707 shares during the period. Wolff Financial Management LLC bought a new position in shares of Broadcom in the fourth quarter worth $244,000. Motive Wealth Advisors lifted its position in Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock worth $1,066,000 after purchasing an additional 4,209 shares during the period. Tidal Investments LLC grew its stake in Broadcom by 969.3% during the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer's stock worth $66,696,000 after buying an additional 350,485 shares in the last quarter. Finally, Franchise Capital Ltd acquired a new position in shares of Broadcom in the 4th quarter valued at approximately $2,017,000. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Down 2.1 %

Shares of Broadcom stock traded down $3.62 on Friday, reaching $170.99. 22,452,143 shares of the company's stock were exchanged, compared to its average volume of 31,393,581. The firm's 50-day moving average is $189.84 and its two-hundred day moving average is $195.90. The company has a market capitalization of $803.99 billion, a P/E ratio of 139.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's payout ratio is 113.46%.

Broadcom declared that its board has initiated a stock repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

AVGO has been the topic of a number of recent analyst reports. Bank of America decreased their price objective on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research note on Wednesday. Barclays boosted their price target on Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Mizuho reduced their price objective on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Finally, Benchmark reissued a "buy" rating and issued a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. 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, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.28.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction 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 directly owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Justine Page sold 800 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the sale, the director now directly owns 25,380 shares of the company's stock, valued at approximately $4,695,300. The trade was a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 719,776 shares of company stock valued at $131,065,542. 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.