Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Qtron Investments LLC

Qtron Investments LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,575 shares of the semiconductor manufacturer's stock after selling 4,053 shares during the quarter. Broadcom comprises approximately 1.8% of Qtron Investments LLC's investment portfolio, making the stock its 9th largest holding. Qtron Investments LLC's holdings in Broadcom were worth $12,885,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. Howard Capital Management Group LLC grew its holdings in Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock worth $524,000 after acquiring an additional 2,908 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock valued at $1,238,966,000 after purchasing an additional 6,540,800 shares during the period. Invst LLC boosted its holdings in Broadcom by 928.6% during the third quarter. Invst LLC now owns 3,024 shares of the semiconductor manufacturer's stock worth $522,000 after buying an additional 2,730 shares in the last quarter. McIlrath & Eck LLC increased its holdings in Broadcom by 793.3% in the third quarter. McIlrath & Eck LLC now owns 402 shares of the semiconductor manufacturer's stock valued at $69,000 after buying an additional 357 shares in the last quarter. Finally, Passumpsic Savings Bank boosted its stake in shares of Broadcom by 900.9% during the 3rd quarter. Passumpsic Savings Bank now owns 15,904 shares of the semiconductor manufacturer's stock worth $2,743,000 after acquiring an additional 14,315 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. This represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Down 2.0 %

NASDAQ AVGO traded down $3.58 during trading on Monday, reaching $178.36. 25,706,227 shares of the company's stock were exchanged, compared to its average volume of 31,343,073. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock has a market cap of $838.64 billion, a P/E ratio of 145.48, 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. The company has a 50 day moving average price of $195.52 and a two-hundred day moving average price of $196.11.

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

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research analyst reports. Citigroup dropped their price objective on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Friday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. Truist Financial upped their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Rosenblatt Securities reissued a "buy" rating and set a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Finally, Barclays upped their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $231.68.

Broadcom Company 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.