Sandhill Capital Partners LLC Sells 653 Shares of Broadcom Inc. (NASDAQ:AVGO)

Sandhill Capital Partners LLC trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,845 shares of the semiconductor manufacturer’s stock after selling 653 shares during the quarter. Broadcom comprises approximately 0.5% of Sandhill Capital Partners LLC’s investment portfolio, making the stock its 26th biggest position. Sandhill Capital Partners LLC’s holdings in Broadcom were worth $6,524,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. VCI Wealth Management LLC bought a new position in Broadcom during the fourth quarter worth $316,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Broadcom by 7.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 252,413 shares of the semiconductor manufacturer’s stock worth $281,756,000 after buying an additional 18,109 shares in the last quarter. Abbrea Capital LLC lifted its holdings in shares of Broadcom by 1.6% during the fourth quarter. Abbrea Capital LLC now owns 2,385 shares of the semiconductor manufacturer’s stock worth $2,662,000 after buying an additional 37 shares in the last quarter. Syon Capital LLC lifted its holdings in shares of Broadcom by 22.0% during the fourth quarter. Syon Capital LLC now owns 4,728 shares of the semiconductor manufacturer’s stock worth $5,278,000 after buying an additional 853 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan lifted its holdings in shares of Broadcom by 28.7% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 936 shares of the semiconductor manufacturer’s stock worth $1,045,000 after buying an additional 209 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

AVGO has been the subject of a number of research reports. Cantor Fitzgerald lifted their target price on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Mizuho boosted their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Barclays boosted their price target on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Finally, UBS Group boosted their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Buying and Selling at Broadcom

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now directly owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Up 3.0 %

AVGO stock traded up $37.60 during trading on Thursday, hitting $1,294.42. The company had a trading volume of 3,035,701 shares, compared to its average volume of 2,942,063. The business has a 50-day moving average of $1,304.15 and a 200-day moving average of $1,129.53. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The stock has a market cap of $599.86 billion, a PE ratio of 47.94, a PEG ratio of 2.55 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the prior year, the business posted $9.83 earnings per share. The firm’s revenue was up 34.2% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.62%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.