Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Decreased by Great Lakes Advisors LLC

Great Lakes Advisors LLC lessened its position in Broadcom Inc. (NASDAQ:AVGOFree Report) by 18.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,730 shares of the semiconductor manufacturer’s stock after selling 22,561 shares during the quarter. Broadcom makes up about 1.1% of Great Lakes Advisors LLC’s holdings, making the stock its 19th biggest holding. Great Lakes Advisors LLC’s holdings in Broadcom were worth $113,556,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AVGO. Private Wealth Management Group LLC acquired a new position in Broadcom in the 4th quarter worth about $146,000. American National Bank boosted its position in Broadcom by 0.7% during the fourth quarter. American National Bank now owns 10,156 shares of the semiconductor manufacturer’s stock worth $11,337,000 after purchasing an additional 70 shares during the period. Pathway Capital Management LP bought a new stake in shares of Broadcom during the 4th quarter worth $10,351,000. Tarbox Family Office Inc. acquired a new position in Broadcom during the 4th quarter worth $212,000. Finally, First Heartland Consultants Inc. boosted its holdings in Broadcom by 18.1% during the fourth quarter. First Heartland Consultants Inc. now owns 710 shares of the semiconductor manufacturer’s stock valued at $793,000 after acquiring an additional 109 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AVGO shares. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. Mizuho raised their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Susquehanna upped their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Evercore ISI started coverage on Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price on the stock. Finally, The Goldman Sachs Group restated a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $1,296.91.

View Our Latest Stock Report on AVGO

Insider Buying and Selling at Broadcom

In other news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, Director Justine Page sold 110 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 1.2 %

Shares of Broadcom stock traded down $16.84 during trading on Friday, reaching $1,395.29. 1,817,367 shares of the company were exchanged, compared to its average volume of 2,287,940. Broadcom Inc. has a twelve month low of $656.00 and a twelve month high of $1,445.40. The business has a 50-day moving average price of $1,311.32 and a 200-day moving average price of $1,182.12. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $646.61 billion, a price-to-earnings ratio of 51.72, a P/E/G ratio of 2.87 and a beta of 1.25.

Broadcom (NASDAQ:AVGOGet Free Report) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. The business 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%. During the same quarter last year, the firm earned $9.83 EPS. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. Sell-side analysts anticipate that Broadcom Inc. will post 36.06 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.51%. Broadcom’s dividend payout ratio is presently 77.84%.

About Broadcom

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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