Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Swiss National Bank

Swiss National Bank decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 4.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,534,530 shares of the semiconductor manufacturer’s stock after selling 591,400 shares during the period. Broadcom makes up approximately 1.9% of Swiss National Bank’s holdings, making the stock its 8th biggest position. Swiss National Bank’s holdings in Broadcom were worth $2,906,005,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. KFA Private Wealth Group LLC boosted its stake in shares of Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after purchasing an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA lifted its holdings in Broadcom by 2.7% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after buying an additional 45 shares during the period. Bryant Woods Investment Advisors LLC boosted its position in Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after acquiring an additional 45 shares in the last quarter. Marest Capital LLC boosted its position in Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after acquiring an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC grew its holdings in shares of Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after acquiring an additional 47 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This trade represents a 5.90 % 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 worth $44,964,800 in the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AVGO. Benchmark restated a “buy” rating and set a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Barclays lifted their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $194.23 on Thursday. The firm’s 50-day moving average price is $219.67 and its 200-day moving average price is $193.45. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a market cap of $913.26 billion, a PE ratio of 158.43, a PEG ratio of 2.29 and a beta of 1.01. 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 (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the company posted $0.98 earnings per share. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.22%. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

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.