Family Asset Management LLC Sells 24 Shares of Broadcom Inc. (NASDAQ:AVGO)

Family Asset Management LLC cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 9.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218 shares of the semiconductor manufacturer’s stock after selling 24 shares during the period. Family Asset Management LLC’s holdings in Broadcom were worth $243,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Northern Trust Corp raised its stake in Broadcom by 2.1% in the third quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after purchasing an additional 93,615 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Broadcom by 43.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after buying an additional 1,228,755 shares in the last quarter. FMR LLC lifted its holdings in shares of Broadcom by 16.7% during the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after acquiring an additional 573,826 shares during the period. International Assets Investment Management LLC boosted its position in shares of Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after acquiring an additional 3,324,288 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Broadcom by 19.1% in the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock valued at $2,663,339,000 after acquiring an additional 514,120 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Up 2.5 %

Shares of Broadcom stock traded up $32.20 on Monday, hitting $1,310.31. 1,627,126 shares of the company’s stock traded hands, compared to its average volume of 2,890,694. The company has a fifty day moving average of $1,308.68 and a two-hundred day moving average of $1,154.58. Broadcom Inc. has a one year low of $615.86 and a one year high of $1,438.17. The company has a market capitalization of $607.22 billion, a price-to-earnings ratio of 48.57, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.60%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Mizuho upped their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Benchmark reissued a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of 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 document filed with the SEC, which is accessible through this link. In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the transaction, the insider now owns 46,974 shares in the company, valued at approximately $61,957,296.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. Corporate insiders own 2.00% of the company’s stock.

About Broadcom

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.