Broadcom Inc. (NASDAQ:AVGO) Shares Sold by ProVise Management Group LLC

ProVise Management Group LLC reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 51.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,160 shares of the semiconductor manufacturer’s stock after selling 1,250 shares during the quarter. ProVise Management Group LLC’s holdings in Broadcom were worth $269,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Swedbank AB lifted its holdings in Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after buying an additional 16,453,718 shares in the last quarter. Howard Capital Management Group LLC lifted its holdings in Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after buying an additional 2,908 shares in the last quarter. Pettinga Financial Advisors LLC lifted its holdings in Broadcom by 896.9% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer’s stock worth $502,000 after buying an additional 2,619 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after buying an additional 6,540,800 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC lifted its holdings in Broadcom by 663.8% during the 3rd quarter. Mill Creek Capital Advisors LLC now owns 6,080 shares of the semiconductor manufacturer’s stock worth $1,049,000 after buying an additional 5,284 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, CFO Kirsten M. Spears sold 12,570 shares of Broadcom stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the sale, the chief financial officer now directly owns 325,443 shares in the company, valued at $74,728,221.66. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 184,738 shares of company stock worth $43,395,200. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. TD Cowen increased their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Susquehanna increased their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Finally, Morgan Stanley increased their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Stock Up 3.7 %

Shares of NASDAQ AVGO opened at $195.57 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $215.81 and a 200 day moving average price of $194.61. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock has a market capitalization of $919.56 billion, a price-to-earnings ratio of 159.52, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 1.21%. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

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.