James Hambro & Partners cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 17.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 534 shares of the semiconductor manufacturer’s stock after selling 110 shares during the period. James Hambro & Partners’ holdings in Broadcom were worth $248,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its holdings in Broadcom by 11.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 737,257 shares of the semiconductor manufacturer’s stock valued at $334,440,000 after purchasing an additional 76,550 shares during the period. Atlas Private Wealth Advisors lifted its stake in Broadcom by 47.9% in the 1st quarter. Atlas Private Wealth Advisors now owns 179 shares of the semiconductor manufacturer’s stock valued at $83,000 after purchasing an additional 58 shares during the last quarter. Parsons Capital Management Inc. RI lifted its stake in Broadcom by 1.2% in the 1st quarter. Parsons Capital Management Inc. RI now owns 5,439 shares of the semiconductor manufacturer’s stock valued at $2,522,000 after purchasing an additional 65 shares during the last quarter. Probity Advisors Inc. acquired a new position in Broadcom in the 1st quarter valued at approximately $1,067,000. Finally, J.W. Cole Advisors Inc. increased its position in Broadcom by 27.1% in the 1st quarter. J.W. Cole Advisors Inc. now owns 3,067 shares of the semiconductor manufacturer’s stock valued at $1,422,000 after acquiring an additional 653 shares during the period. Institutional investors and hedge funds own 80.62% of the company’s stock.
In other news, Director Eddy W. Hartenstein sold 530 shares of Broadcom stock in a transaction on Tuesday, April 20th. The stock was sold at an average price of $457.70, for a total transaction of $242,581.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Charlie B. Kawwas sold 1,890 shares of Broadcom stock in a transaction on Friday, March 26th. The stock was sold at an average price of $469.29, for a total value of $886,958.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,997 shares of company stock valued at $13,256,368. 3.00% of the stock is owned by corporate insiders.
AVGO has been the subject of several recent research reports. Citigroup upped their price target on shares of Broadcom from $470.00 to $500.00 in a research report on Monday, March 8th. Mizuho increased their price objective on shares of Broadcom from $480.00 to $490.00 and gave the stock a “buy” rating in a research report on Thursday, March 11th. Royal Bank of Canada increased their price objective on shares of Broadcom from $450.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, March 11th. Rosenblatt Securities increased their price objective on shares of Broadcom from $470.00 to $540.00 and gave the stock a “buy” rating in a research report on Thursday, March 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $500.00 to $570.00 and gave the stock an “overweight” rating in a research report on Thursday, March 11th. Five analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $469.15.
NASDAQ AVGO opened at $445.59 on Tuesday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.71 and a current ratio of 1.87. The company has a market capitalization of $181.94 billion, a P/E ratio of 71.56, a P/E/G ratio of 1.50 and a beta of 1.05. Broadcom Inc. has a one year low of $254.75 and a one year high of $495.14. The stock has a 50 day moving average price of $471.89 and a 200-day moving average price of $437.45.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, March 3rd. The semiconductor manufacturer reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.56 by $0.05. The company had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.61 billion. Broadcom had a return on equity of 35.23% and a net margin of 12.39%. Broadcom’s revenue was up 13.6% on a year-over-year basis. During the same period last year, the company earned $5.25 earnings per share. As a group, equities analysts predict that Broadcom Inc. will post 23.14 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Monday, March 22nd were given a $3.60 dividend. The ex-dividend date of this dividend was Friday, March 19th. This represents a $14.40 dividend on an annualized basis and a yield of 3.23%. Broadcom’s dividend payout ratio is presently 78.05%.
Broadcom Inc designs, develops, and supplies semiconductor infrastructure software solutions. It offers 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's infrastructure software solutions enable customers to plan, develop, automate, manage, and secure applications across mainframe, distributed, mobile, and cloud platforms.
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