Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,729 shares of the semiconductor manufacturer’s stock after selling 17 shares during the quarter. Stonegate Investment Group LLC’s holdings in Broadcom were worth $14,220,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Norges Bank acquired a new position in Broadcom in the fourth quarter worth approximately $6,225,987,000. International Assets Investment Management LLC grew its position in Broadcom by 113,495.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after buying an additional 3,324,288 shares during the last quarter. Wellington Management Group LLP grew its position in Broadcom by 43.9% in the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after buying an additional 1,228,755 shares during the last quarter. Capital International Investors grew its position in Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock worth $26,044,294,000 after buying an additional 1,006,223 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Broadcom in the third quarter worth approximately $560,563,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AVGO shares. Benchmark restated a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research report on Friday, January 19th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Finally, StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Stock Down 2.9 %

Shares of Broadcom stock traded down $38.35 on Tuesday, hitting $1,300.27. 2,208,554 shares of the company traded hands, compared to its average volume of 2,907,510. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The company has a 50-day moving average price of $1,310.04 and a 200 day moving average price of $1,143.82. The company has a market cap of $602.57 billion, a PE ratio of 48.19, a PEG ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the previous year, the business earned $9.83 EPS. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. Sell-side analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is presently 77.84%.

Insider Activity at Broadcom

In related news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on 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 of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,920 shares of company stock valued at $40,306,667. Insiders own 2.00% of the company’s stock.

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.