Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Trimmed by Copeland Capital Management LLC

Copeland Capital Management LLC reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 21.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 159,678 shares of the semiconductor manufacturer’s stock after selling 42,337 shares during the period. Copeland Capital Management LLC’s holdings in Broadcom were worth $37,020,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. State Street Corp increased its holdings in Broadcom by 948.5% in the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after buying an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Broadcom by 976.6% during the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the last quarter. FMR LLC grew its holdings in shares of Broadcom by 1,121.3% during the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 12,570 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the sale, the chief financial officer now directly owns 325,443 shares in the company, valued at approximately $74,728,221.66. This trade represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last three months. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

NASDAQ AVGO opened at $222.43 on Wednesday. The stock has a market capitalization of $1.04 trillion, a P/E ratio of 181.43, a P/E/G ratio of 2.31 and a beta of 1.02. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The business’s fifty day moving average is $214.47 and its two-hundred day moving average is $182.60. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. On average, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.06%. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is 192.50%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. Truist Financial upped their target price on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. Robert W. Baird upped their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $255.00 target price (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Finally, UBS Group boosted their price objective on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $225.04.

About Broadcom

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.