Financial Counselors Inc. Has $127.20 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Financial Counselors Inc. reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 548,664 shares of the semiconductor manufacturer’s stock after selling 3,519 shares during the period. Broadcom accounts for about 1.9% of Financial Counselors Inc.’s portfolio, making the stock its 7th biggest position. Financial Counselors Inc.’s holdings in Broadcom were worth $127,202,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of AVGO. Swedbank AB lifted its stake in shares of Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the period. Howard Capital Management Group LLC lifted its position in Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after purchasing an additional 2,908 shares during the period. Principal Financial Group Inc. boosted its stake in Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after purchasing an additional 6,540,800 shares in the last quarter. Quest Partners LLC increased its position in shares of Broadcom by 3,295.8% during the 3rd quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer’s stock valued at $141,000 after purchasing an additional 791 shares during the period. Finally, Leelyn Smith LLC raised its stake in shares of Broadcom by 875.6% in the 3rd quarter. Leelyn Smith LLC now owns 13,151 shares of the semiconductor manufacturer’s stock worth $2,269,000 after buying an additional 11,803 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research reports. TD Cowen raised their target price on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group lifted their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Piper Sandler increased their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Benchmark reaffirmed a “buy” rating and issued a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Finally, Truist Financial raised their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Three equities 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 has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Insiders Place Their Bets

In other news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,000 shares of company stock valued at $21,494,560 over the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 1.6 %

Broadcom stock opened at $188.26 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The firm’s fifty day simple moving average is $212.97 and its 200-day simple moving average is $196.00. The company has a market capitalization of $885.19 billion, a P/E ratio of 153.56, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given 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 1.25%. Broadcom’s dividend payout ratio is currently 113.46%.

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.