Northstar Group Inc. Lowers Position in Broadcom Inc. (NASDAQ:AVGO)

Northstar Group Inc. cut its stake in Broadcom Inc. (NASDAQ:AVGOFree Report) by 4.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 242 shares of the semiconductor manufacturer’s stock after selling 10 shares during the quarter. Northstar Group Inc.’s holdings in Broadcom were worth $270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morningstar Investment Services LLC increased its position in shares of Broadcom by 50.1% during the second quarter. Morningstar Investment Services LLC now owns 755 shares of the semiconductor manufacturer’s stock valued at $649,000 after acquiring an additional 252 shares during the last quarter. RMR Wealth Builders increased its position in shares of Broadcom by 6.5% during the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after acquiring an additional 388 shares during the last quarter. Czech National Bank increased its position in shares of Broadcom by 46.1% during the third quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock valued at $59,909,000 after acquiring an additional 22,774 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Broadcom during the second quarter valued at approximately $4,684,000. Finally, Aspen Grove Capital LLC grew its holdings in Broadcom by 3.5% during the second quarter. Aspen Grove Capital LLC now owns 1,486 shares of the semiconductor manufacturer’s stock valued at $1,289,000 after purchasing an additional 50 shares during the period. 78.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $1,122.46, for a total value of $22,449,200.00. Following the sale, the chief executive officer now directly owns 209,796 shares of the company’s stock, valued at approximately $235,487,618.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at approximately $28,039,603.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $1,122.46, for a total transaction of $22,449,200.00. Following the completion of the transaction, the chief executive officer now owns 209,796 shares of the company’s stock, valued at $235,487,618.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,450 shares of company stock valued at $30,033,861. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AVGO. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. Truist Financial increased their price objective on Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a report on Friday, December 8th. Rosenblatt Securities increased their price objective on Broadcom from $1,160.00 to $1,500.00 and gave the company a “buy” rating in a report on Monday, March 4th. KeyCorp increased their price objective on Broadcom from $1,000.00 to $1,200.00 and gave the company an “overweight” rating in a report on Friday, November 24th. Finally, StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $1,154.45.

Get Our Latest Analysis on AVGO

Broadcom Stock Up 0.1 %

AVGO opened at $1,237.24 on Tuesday. The company has a market cap of $573.36 billion, a P/E ratio of 45.86, a P/E/G ratio of 2.60 and a beta of 1.26. The business’s 50-day moving average price is $1,241.44 and its 200-day moving average price is $1,042.49. 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 Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17.

Broadcom (NASDAQ:AVGOGet Free Report) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.83 earnings per share. On average, equities analysts expect that Broadcom Inc. will post 36.8 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be given a dividend of $5.25 per share. The ex-dividend date is Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.70%. Broadcom’s payout ratio is 77.84%.

Broadcom Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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