PGGM Investments Has $10.68 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

PGGM Investments trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 48.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,563 shares of the semiconductor manufacturer’s stock after selling 9,004 shares during the quarter. PGGM Investments’ holdings in Broadcom were worth $10,675,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. BetterWealth LLC raised its stake in shares of Broadcom by 1.5% in the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after purchasing an additional 9 shares in the last quarter. Rise Advisors LLC raised 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 valued at $44,000 after purchasing an additional 10 shares in the last quarter. CX Institutional raised its stake in shares of Broadcom by 0.8% in the fourth quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after purchasing an additional 10 shares in the last quarter. Cascade Investment Group Inc. raised its stake in shares of Broadcom by 1.7% in the fourth quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $680,000 after purchasing an additional 10 shares in the last quarter. Finally, Sabal Trust CO raised its stake in shares of Broadcom by 1.6% in the fourth quarter. Sabal Trust CO now owns 640 shares of the semiconductor manufacturer’s stock valued at $714,000 after purchasing an additional 10 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 research firms have issued reports on AVGO. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Barclays increased their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. In the last three months, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $49.65 during midday trading on Friday, hitting $1,344.07. 2,409,983 shares of the company’s stock were exchanged, compared to its average volume of 2,322,994. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The company’s 50 day moving average price is $1,306.70 and its 200 day moving average price is $1,135.99. The firm has a market capitalization of $622.87 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the previous year, the company posted $9.83 EPS. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.56%. Broadcom’s dividend payout ratio is currently 77.84%.

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.