Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,124 shares of the semiconductor manufacturer’s stock after selling 30 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Broadcom were worth $1,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Macroview Investment Management LLC purchased a new stake in shares of Broadcom during the 3rd quarter valued at approximately $29,000. BKM Wealth Management LLC acquired a new stake in Broadcom during the fourth quarter worth $29,000. CKW Financial Group purchased a new stake in Broadcom in the fourth quarter valued at $30,000. VitalStone Financial LLC lifted its stake in shares of Broadcom by 71.4% in the 1st quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock valued at $40,000 after purchasing an additional 25 shares during the last quarter. Finally, Rise Advisors LLC grew its holdings in shares of Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 10 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $1,329.06 on Wednesday. The stock has a market cap of $615.91 billion, a P/E ratio of 49.26, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. The company has a fifty day simple moving average of $1,306.49 and a 200-day simple moving average of $1,114.01. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the firm posted $9.83 earnings per share. Equities analysts expect that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.58%. Broadcom’s dividend payout ratio is presently 77.84%.

Wall Street Analyst Weigh In

A number of research analysts have commented on AVGO shares. Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Cantor Fitzgerald increased their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Barclays began coverage on shares of Broadcom in a report on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 target price for the company. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. Finally, Evercore ISI began coverage on shares of Broadcom in a report on Tuesday. They issued an “outperform” rating and a $1,620.00 target price for the company. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $1,281.09.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by insiders.

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.