Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Altman Advisors Inc.

Altman Advisors Inc. decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,478 shares of the semiconductor manufacturer’s stock after selling 539 shares during the quarter. Broadcom comprises 1.8% of Altman Advisors Inc.’s holdings, making the stock its 11th largest position. Altman Advisors Inc.’s holdings in Broadcom were worth $4,516,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of AVGO. Norges Bank acquired a new position in Broadcom during the fourth quarter worth $16,893,010,000. Franklin Resources Inc. grew its position in shares of Broadcom by 1,114.6% during the third quarter. Franklin Resources Inc. now owns 21,113,921 shares of the semiconductor manufacturer’s stock worth $3,849,270,000 after buying an additional 19,375,547 shares in the last quarter. GQG Partners LLC grew its holdings in Broadcom by 200.0% during the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer’s stock worth $2,367,819,000 after acquiring an additional 6,809,245 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Broadcom by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after purchasing an additional 6,573,204 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of 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 acquiring an additional 6,540,800 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 5.6 %

Broadcom stock opened at $181.94 on Friday. The firm has a 50 day simple moving average of $195.52 and a 200-day simple moving average of $195.99. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $855.47 billion, a PE ratio of 148.40, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88.

Broadcom declared that its board has approved a stock repurchase plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.30%. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AVGO. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. KeyCorp increased their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Morgan Stanley raised their target price on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Barclays lifted their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $231.68.

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.