Biltmore Family Office LLC Sells 550 Shares of Broadcom Inc. (NASDAQ:AVGO)

Biltmore Family Office LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 8,527 shares of the semiconductor manufacturer’s stock after selling 550 shares during the period. Biltmore Family Office LLC’s holdings in Broadcom were worth $1,977,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Disciplined Investors L.L.C. purchased a new stake in shares of Broadcom in the fourth quarter valued at about $630,000. SevenBridge Financial Group LLC grew its position in Broadcom by 3.2% in the 4th quarter. SevenBridge Financial Group LLC now owns 6,576 shares of the semiconductor manufacturer’s stock worth $1,546,000 after purchasing an additional 205 shares in the last quarter. Martin Investment Management LLC bought a new stake in Broadcom in the 4th quarter worth about $243,000. OneAscent Financial Services LLC increased its stake in Broadcom by 23.5% in the 4th quarter. OneAscent Financial Services LLC now owns 3,240 shares of the semiconductor manufacturer’s stock valued at $751,000 after buying an additional 617 shares during the last quarter. Finally, Huntington National Bank lifted its position in shares of Broadcom by 2.7% during the 4th quarter. Huntington National Bank now owns 1,084,742 shares of the semiconductor manufacturer’s stock worth $251,487,000 after buying an additional 28,223 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Up 2.1 %

Shares of AVGO stock opened at $172.09 on Thursday. The company has a market capitalization of $809.16 billion, a PE ratio of 140.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The business’s fifty day moving average is $205.27 and its 200 day moving average is $196.37. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AVGO shares. Evercore ISI upped their target price on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. JPMorgan Chase & Co. raised their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Jefferies Financial Group raised their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Barclays boosted their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $231.48.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 745,976 shares of company stock worth $138,632,902. 2.00% of the stock is currently owned by company insiders.

Broadcom 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.