South Dakota Investment Council Lowers Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

South Dakota Investment Council decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,112 shares of the semiconductor manufacturer’s stock after selling 150 shares during the period. South Dakota Investment Council’s holdings in Broadcom were worth $12,404,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. PSI Advisors LLC increased its holdings in shares of Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares during the period. Macroview Investment Management LLC bought a new stake in shares of Broadcom in the third quarter worth about $29,000. BKM Wealth Management LLC bought a new stake in shares of Broadcom in the fourth quarter worth about $29,000. CKW Financial Group bought a new stake in shares of Broadcom in the fourth quarter worth about $30,000. Finally, Rise Advisors LLC grew its stake in shares of Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 10 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock traded up $24.73 during mid-day trading on Tuesday, reaching $1,249.19. 2,198,693 shares of the company’s stock traded hands, compared to its average volume of 2,952,703. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The firm has a 50 day moving average price of $1,304.25 and a two-hundred day moving average price of $1,128.64. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The firm has a market capitalization of $578.90 billion, a PE ratio of 46.30, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the previous year, the firm posted $9.83 EPS. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, research analysts forecast that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research note on Friday, January 19th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. Mizuho lifted their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Activity

In other Broadcom news, Director Justine Page sold 110 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the sale, the insider now directly owns 46,974 shares in the company, valued at approximately $61,957,296.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last 90 days. Company 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.