Osborne Partners Capital Management LLC Cuts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Osborne Partners Capital Management LLC reduced its position in Broadcom Inc. (NASDAQ:AVGOFree Report) by 27.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 686 shares of the semiconductor manufacturer’s stock after selling 260 shares during the period. Osborne Partners Capital Management LLC’s holdings in Broadcom were worth $766,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AVGO. Norges Bank bought a new stake in shares of Broadcom during the 4th quarter valued at $2,222,676,000. Moneta Group Investment Advisors LLC increased its position in shares of Broadcom by 122,794.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock valued at $2,050,420,000 after purchasing an additional 3,664,177 shares during the last quarter. Providence Capital Advisors LLC lifted its stake in shares of Broadcom by 49,919.1% during the 1st quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock worth $3,799,000 after acquiring an additional 2,432,559 shares during the last quarter. Wellington Management Group LLP grew its stake in Broadcom by 43.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after acquiring an additional 1,228,755 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Broadcom by 126.5% in the 2nd quarter. Barclays PLC now owns 1,468,758 shares of the semiconductor manufacturer’s stock worth $1,274,044,000 after purchasing an additional 820,402 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 3.0 %

Shares of AVGO traded down $40.43 during midday trading on Tuesday, hitting $1,309.83. 501,885 shares of the company’s stock traded hands, compared to its average volume of 3,031,795. The firm’s fifty day moving average is $1,280.36 and its 200-day moving average is $1,074.79. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The stock has a market capitalization of $607.00 billion, a price-to-earnings ratio of 50.05, a price-to-earnings-growth ratio of 2.79 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:AVGOGet Free Report) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the business posted $9.83 EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 36.8 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Insider Activity

In related news, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the transaction, the chief financial officer now owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 2,500 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the transaction, the chief financial officer now owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The disclosure for this sale can be found here. Insiders sold 22,310 shares of company stock worth $29,405,117 over the last three months. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on AVGO shares. Citigroup restated a “buy” rating and issued a $1,100.00 target price on shares of Broadcom in a research note on Monday, December 11th. Oppenheimer restated an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. Susquehanna raised their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,230.18.

Read Our Latest Research Report on AVGO

About Broadcom

(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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