Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,540 shares of the semiconductor manufacturer’s stock after selling 190 shares during the period. Cumberland Partners Ltd’s holdings in Broadcom were worth $8,315,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of AVGO. International Assets Investment Management LLC lifted its position in Broadcom by 113,495.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after acquiring an additional 3,324,288 shares during the last quarter. Wellington Management Group LLP lifted its position in Broadcom by 43.9% in the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after acquiring an additional 1,228,755 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Broadcom in the third quarter valued at $560,563,000. FMR LLC lifted its position in Broadcom by 16.7% in the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after acquiring an additional 573,826 shares during the last quarter. Finally, Invesco Ltd. lifted its position 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. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the transaction, the insider now directly owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO stock traded up $24.73 during trading hours on Tuesday, hitting $1,249.19. The company’s stock had a trading volume of 2,198,693 shares, compared to its average volume of 2,952,703. The business has a fifty day moving average of $1,304.25 and a 200-day moving average of $1,128.64. The stock has a market cap of $578.90 billion, a price-to-earnings ratio of 46.30, a P/E/G ratio of 2.46 and a beta of 1.25. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue was up 34.2% compared to the same quarter last year. During the same quarter last year, the business earned $9.83 earnings per share. As a group, equities research analysts anticipate that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

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 $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AVGO shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. Susquehanna upped their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. UBS Group upped their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Evercore ISI assumed coverage on shares of Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target for the company. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

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.