Broadcom Inc. (NASDAQ:AVGO) Stock Position Trimmed by Financial Counselors Inc.

Financial Counselors Inc. decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 548,664 shares of the semiconductor manufacturer’s stock after selling 3,519 shares during the quarter. Broadcom makes up approximately 1.9% of Financial Counselors Inc.’s holdings, making the stock its 7th largest holding. Financial Counselors Inc.’s holdings in Broadcom were worth $127,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of AVGO. Swedbank AB boosted its holdings in shares of Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares during the last quarter. Howard Capital Management Group LLC raised its position in shares of Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after buying an additional 2,908 shares during the period. Principal Financial Group Inc. boosted its holdings in Broadcom by 1,019.4% in the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after acquiring an additional 6,540,800 shares during the last quarter. Quest Partners LLC grew its position in Broadcom by 3,295.8% during the third quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer’s stock valued at $141,000 after acquiring an additional 791 shares during the period. Finally, Leelyn Smith LLC increased its stake in Broadcom by 875.6% during the third quarter. Leelyn Smith LLC now owns 13,151 shares of the semiconductor manufacturer’s stock worth $2,269,000 after acquiring an additional 11,803 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AVGO. Morgan Stanley lifted their price objective on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. TD Cowen lifted their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Barclays increased their price objective on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $188.26 on Wednesday. The company has a market cap of $885.19 billion, a PE ratio of 153.56, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The firm has a 50-day simple moving average of $212.97 and a 200 day simple moving average of $196.00. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,000 shares of company stock worth $21,494,560. 2.00% of the stock is currently owned by company insiders.

Broadcom 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.