M Holdings Securities Inc. Reduces Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

M Holdings Securities Inc. lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 76.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,293 shares of the semiconductor manufacturer’s stock after selling 10,662 shares during the quarter. Broadcom makes up about 0.5% of M Holdings Securities Inc.’s holdings, making the stock its 19th largest position. M Holdings Securities Inc.’s holdings in Broadcom were worth $763,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Broadcom by 948.5% in the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC lifted its stake in Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after buying an additional 89,975,941 shares in the last quarter. FMR LLC lifted its stake in Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after buying an additional 82,998,328 shares in the last quarter. Jennison Associates LLC grew its holdings in Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after buying an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after buying an additional 30,674,902 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Up 0.6 %

Shares of NASDAQ AVGO opened at $191.66 on Friday. 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 stock’s 50 day moving average price is $214.38 and its two-hundred day moving average price is $195.08. 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 $901.18 billion, a P/E ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Piper Sandler raised their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Barclays raised their target price on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Evercore ISI boosted their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction that occurred on 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 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 the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 172,168 shares of company stock valued at $40,508,877 over the last 90 days. 2.00% of the stock is owned by company 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.