Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Cincinnati Insurance Co.

Cincinnati Insurance Co. cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 59.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 342,500 shares of the semiconductor manufacturer’s stock after selling 502,479 shares during the period. Broadcom accounts for about 1.4% of Cincinnati Insurance Co.’s portfolio, making the stock its 29th largest position. Cincinnati Insurance Co.’s holdings in Broadcom were worth $79,405,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AVGO. Level Four Advisory Services LLC grew its holdings in shares of Broadcom by 5.4% in the 4th quarter. Level Four Advisory Services LLC now owns 126,332 shares of the semiconductor manufacturer’s stock worth $29,289,000 after acquiring an additional 6,436 shares during the period. Vertex Planning Partners LLC raised its holdings in shares of Broadcom by 40.0% in the fourth quarter. Vertex Planning Partners LLC now owns 1,663 shares of the semiconductor manufacturer’s stock worth $386,000 after acquiring an additional 475 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Broadcom by 7.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 210,857 shares of the semiconductor manufacturer’s stock valued at $48,885,000 after acquiring an additional 14,825 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Broadcom by 1.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 5,161,744 shares of the semiconductor manufacturer’s stock valued at $1,196,699,000 after acquiring an additional 88,314 shares during the last quarter. Finally, Broadway Wealth Solutions Inc. acquired a new position in Broadcom in the 4th quarter valued at about $813,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 122,000 shares of company stock valued at $27,334,060 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Evercore ISI raised their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Morgan Stanley raised their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Mizuho cut their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Jefferies Financial Group raised their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, William Blair reiterated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Performance

Shares of AVGO stock opened at $171.99 on Friday. The company’s fifty day moving average price is $210.84 and its two-hundred day moving average price is $195.72. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market capitalization of $808.69 billion, a P/E ratio of 140.29, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

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.