Broadcom Inc. (NASDAQ:AVGO) is Northwest & Ethical Investments L.P.'s 4th Largest Position

Northwest & Ethical Investments L.P. trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 14.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 294,916 shares of the semiconductor manufacturer's stock after selling 48,757 shares during the quarter. Broadcom makes up 1.9% of Northwest & Ethical Investments L.P.'s portfolio, making the stock its 4th biggest position. Northwest & Ethical Investments L.P.'s holdings in Broadcom were worth $68,372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division lifted its stake 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 in the last quarter. Wolff Financial Management LLC bought a new stake in Broadcom in the 4th quarter valued at approximately $244,000. Strait & Sound Wealth Management LLC lifted its stake in Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock valued at $1,371,000 after acquiring an additional 7,095 shares in the last quarter. Motive Wealth Advisors lifted its stake in Broadcom by 1,076.5% in the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock valued at $1,066,000 after acquiring an additional 4,209 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in Broadcom by 969.3% in the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer's stock valued at $66,696,000 after acquiring an additional 350,485 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares of the company's stock, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares of the company's stock, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 172,168 shares of company stock worth $40,508,877. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

Shares of AVGO stock traded up $1.12 on Friday, hitting $191.66. 43,027,271 shares of the company's stock were exchanged, compared to its average volume of 28,946,893. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a market cap of $901.18 billion, a P/E ratio of 156.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a 50 day moving average of $214.38 and a 200 day moving average of $195.37.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.23%. Broadcom's dividend payout ratio is presently 113.46%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Benchmark reiterated a "buy" rating and set a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Bank of America upped their price objective on Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Mizuho dropped 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. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $231.48.

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.