KCM Investment Advisors LLC Sells 6,637 Shares of Broadcom Inc. (NASDAQ:AVGO)

KCM Investment Advisors LLC trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,590 shares of the semiconductor manufacturer’s stock after selling 6,637 shares during the quarter. KCM Investment Advisors LLC’s holdings in Broadcom were worth $16,829,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AVGO. Howard Capital Management Group LLC raised its stake in shares of Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after acquiring an additional 2,908 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of 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 acquiring an additional 6,540,800 shares during the period. Redwood Investment Management LLC raised its holdings in shares of Broadcom by 319.2% during the third quarter. Redwood Investment Management LLC now owns 3,748 shares of the semiconductor manufacturer’s stock valued at $647,000 after purchasing an additional 2,854 shares during the period. Quarry LP boosted its holdings in Broadcom by 396.7% in the third quarter. Quarry LP now owns 1,058 shares of the semiconductor manufacturer’s stock worth $183,000 after acquiring an additional 845 shares in the last quarter. Finally, Stansberry Asset Management LLC lifted its holdings in shares of Broadcom by 828.6% in the 3rd quarter. Stansberry Asset Management LLC now owns 2,210 shares of the semiconductor manufacturer’s stock worth $381,000 after purchasing an additional 1,972 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Truist Financial increased their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. William Blair reissued an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Finally, Jefferies Financial Group boosted their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Activity at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 745,976 shares of company stock worth $138,632,902 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 5.0 %

NASDAQ AVGO opened at $146.29 on Friday. 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 has a market cap of $687.85 billion, a PE ratio of 119.32, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The stock has a 50-day moving average of $201.57 and a 200-day moving average of $195.95.

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 1.61%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 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.