Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lowered by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 99,360 shares of the semiconductor manufacturer’s stock after selling 4,827 shares during the quarter. Broadcom accounts for approximately 4.4% of Alpine Woods Capital Investors LLC’s holdings, making the stock its largest holding. Alpine Woods Capital Investors LLC’s holdings in Broadcom were worth $23,036,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Canton Hathaway LLC purchased a new stake in Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter worth approximately $26,000. Bellevue Asset Management LLC purchased a new stake in Broadcom during the 4th quarter worth approximately $33,000. Pin Oak Investment Advisors Inc. increased its holdings in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom during the 4th quarter worth approximately $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Mizuho dropped their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Morgan Stanley lifted their target price on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. TD Cowen lifted their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Benchmark reiterated a “buy” rating and issued a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Bank of America lifted their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Down 1.5 %

AVGO opened at $191.36 on Friday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock’s fifty day moving average is $218.86 and its 200-day moving average is $193.43. The company has a market capitalization of $899.76 billion, a PE ratio of 156.09, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

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.