Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Cincinnati Financial Corp

Cincinnati Financial Corp lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,724,909 shares of the semiconductor manufacturer's stock after selling 9,151 shares during the period. Broadcom accounts for about 8.8% of Cincinnati Financial Corp's portfolio, making the stock its 2nd largest position. Cincinnati Financial Corp's holdings in Broadcom were worth $399,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in AVGO. KFA Private Wealth Group LLC raised its holdings in shares of Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock valued at $407,000 after buying an additional 42 shares during the period. Dakota Community Bank & Trust NA raised its stake in shares of Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock valued at $391,000 after purchasing an additional 45 shares during the period. Bryant Woods Investment Advisors LLC raised its stake in shares of Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock valued at $305,000 after purchasing an additional 45 shares during the period. Marest Capital LLC lifted its position in shares of Broadcom by 1.0% during the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock worth $1,052,000 after purchasing an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC boosted its position in Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock valued at $2,947,000 after buying an additional 47 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 785,976 shares of company stock worth $147,912,102. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AVGO. Jefferies Financial Group upped their target price on Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Rosenblatt Securities reiterated a "buy" rating and set a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Hsbc Global Res raised Broadcom to a "hold" rating in a report on Tuesday, December 3rd. KeyCorp increased their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Finally, Bank of America lifted their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a "buy" rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $231.48.

Broadcom Trading Down 2.7 %

Shares of Broadcom stock traded down $4.48 during trading hours on Monday, hitting $164.64. The company's stock had a trading volume of 13,836,215 shares, compared to its average volume of 30,391,068. The company has a market capitalization of $774.12 billion, a PE ratio of 134.40, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. 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 stock has a 50 day moving average of $209.48 and a 200 day moving average of $196.51. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.43%. Broadcom's payout ratio is 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.