Broadcom Inc. (NASDAQ:AVGO) is Rockefeller Capital Management L.P.'s 10th Largest Position

Rockefeller Capital Management L.P. decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,567,576 shares of the semiconductor manufacturer's stock after selling 31,886 shares during the period. Broadcom accounts for about 1.6% of Rockefeller Capital Management L.P.'s holdings, making the stock its 10th largest position. Rockefeller Capital Management L.P. owned about 0.05% of Broadcom worth $602,559,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. KFA Private Wealth Group LLC increased its position in shares of Broadcom by 2.5% during the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock worth $407,000 after buying an additional 42 shares during the period. Dakota Community Bank & Trust NA boosted its position in 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 acquiring an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC grew its holdings in Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock worth $305,000 after acquiring an additional 45 shares during the period. Marest Capital LLC lifted its stake in shares of Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock valued at $1,052,000 after purchasing an additional 46 shares during the period. Finally, Defined Wealth Management LLC boosted its position in shares of Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock valued at $2,947,000 after purchasing an additional 47 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

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Analyst Ratings Changes

AVGO has been the topic of several recent analyst reports. Barclays boosted their price target on Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. KeyCorp increased their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. William Blair restated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Citigroup cut their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $231.68.

Broadcom Stock Performance

Shares of AVGO stock traded down $3.58 on Monday, hitting $178.36. 25,706,227 shares of the stock were exchanged, compared to its average volume of 31,343,073. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The firm's 50 day moving average is $195.52 and its two-hundred day moving average is $196.11. The firm has a market capitalization of $838.64 billion, a PE ratio of 145.48, a P/E/G ratio of 2.29 and a beta of 1.05. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is currently 113.46%.

Broadcom declared that its board has authorized a stock buyback program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the company's 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 sale, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares of the company's stock, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

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.