Vestor Capital LLC Sells 93,598 Shares of Broadcom Inc. (NASDAQ:AVGO)

Vestor Capital LLC cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 23.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 304,530 shares of the semiconductor manufacturer’s stock after selling 93,598 shares during the quarter. Broadcom accounts for 5.4% of Vestor Capital LLC’s investment portfolio, making the stock its 5th largest holding. Vestor Capital LLC’s holdings in Broadcom were worth $70,602,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AVGO. Swedbank AB increased its holdings in shares of Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after acquiring an additional 16,453,718 shares in the last quarter. Howard Capital Management Group LLC increased its holdings in shares of Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after acquiring an additional 2,908 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Broadcom by 1,019.4% during the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after acquiring an additional 6,540,800 shares in the last quarter. Quest Partners LLC grew its holdings in Broadcom by 3,295.8% during the third quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer’s stock worth $141,000 after buying an additional 791 shares in the last quarter. Finally, OneAscent Wealth Management LLC grew its holdings in Broadcom by 899.0% during the third quarter. OneAscent Wealth Management LLC now owns 4,066 shares of the semiconductor manufacturer’s stock worth $701,000 after buying an additional 3,659 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

NASDAQ:AVGO opened at $191.66 on Friday. The business’s 50-day moving average price is $214.38 and its two-hundred day moving average price is $194.79. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The stock has a market cap of $901.18 billion, a P/E ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01. 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. Broadcom’s payout ratio is currently 113.46%.

Insider Activity

In other news, CEO Hock E. Tan sold 45,000 shares of the 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 transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,168 shares of company stock worth $40,508,877. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. Truist Financial upped their price target on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Evercore ISI upped their price target on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. KeyCorp upped their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, Susquehanna upped their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom 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.