M Holdings Securities Inc. Sells 10,662 Shares of Broadcom Inc. (NASDAQ:AVGO)

M Holdings Securities Inc. cut its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 76.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,293 shares of the semiconductor manufacturer's stock after selling 10,662 shares during the quarter. Broadcom accounts for 0.5% of M Holdings Securities Inc.'s portfolio, making the stock its 19th biggest holding. M Holdings Securities Inc.'s holdings in Broadcom were worth $763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer's stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC raised its position in Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock worth $17,055,760,000 after purchasing an additional 89,975,941 shares during the last quarter. FMR LLC lifted its holdings in Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock worth $15,594,088,000 after buying an additional 82,998,328 shares in the last quarter. Jennison Associates LLC boosted its position in Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock valued at $6,209,758,000 after buying an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer's stock valued at $5,833,894,000 after buying an additional 30,674,902 shares during the period. 76.43% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares of the company's stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares of the company's stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,000 shares of company stock worth $21,494,560 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 0.5 %

Shares of AVGO stock traded down $0.91 during trading on Tuesday, reaching $190.35. The company's stock had a trading volume of 6,974,461 shares, compared to its average volume of 30,357,842. The company has a market cap of $894.99 billion, a price-to-earnings ratio of 155.26, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The business has a fifty day moving average price of $213.70 and a 200-day moving average price of $195.64. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.24%. Broadcom's payout ratio is presently 113.46%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Bank of America raised their price target on Broadcom from $215.00 to $250.00 and gave the company a "buy" rating in a report on Friday, December 13th. TD Cowen boosted their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Morgan Stanley raised their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Benchmark reiterated a "buy" rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Truist Financial raised their price target on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Three investment 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 an average rating of "Moderate Buy" and an average target price of $231.48.

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.