Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Invesco Ltd.

Invesco Ltd. decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 18.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,306,313 shares of the semiconductor manufacturer’s stock after selling 8,417,851 shares during the quarter. Broadcom makes up approximately 1.6% of Invesco Ltd.’s holdings, making the stock its 6th largest holding. Invesco Ltd.’s holdings in Broadcom were worth $8,417,256,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Canton Hathaway LLC bought a new position in Broadcom in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the 4th quarter valued at about $26,000. Sellwood Investment Partners LLC bought a new stake in Broadcom during the fourth quarter worth about $32,000. Bellevue Asset Management LLC bought a new position in Broadcom in the fourth quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC bought a new position in shares of Broadcom in the fourth quarter valued at $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 697,976 shares of company stock valued at $127,336,102 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $146.29 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock has a market capitalization of $687.85 billion, a PE ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05. The company’s 50 day simple moving average is $201.57 and its two-hundred day simple moving average is $196.43.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.61%. Broadcom’s payout ratio is presently 113.46%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent analyst reports. TD Cowen raised their target price on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Citigroup increased their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Evercore ISI boosted their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Company 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.