Broadcom Inc. (NASDAQ:AVGO) Holdings Lessened by Boyd Watterson Asset Management LLC OH

Boyd Watterson Asset Management LLC OH cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,818 shares of the semiconductor manufacturer’s stock after selling 36 shares during the period. Broadcom makes up 3.5% of Boyd Watterson Asset Management LLC OH’s holdings, making the stock its 3rd biggest holding. Boyd Watterson Asset Management LLC OH’s holdings in Broadcom were worth $8,726,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Trust Corp grew its holdings in shares of 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 boosted its stake in shares of Broadcom by 43.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after purchasing an additional 1,228,755 shares during 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 raised its holdings 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 buying an additional 3,324,288 shares during the period. Finally, Invesco Ltd. raised its holdings 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 buying an additional 514,120 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, 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 owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the transaction, 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 available through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’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 completion of the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. 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. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AVGO shares. StockNews.com cut 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 company an “overweight” rating in a research report on Wednesday, April 17th. Cantor Fitzgerald increased their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Oppenheimer reiterated an “outperform” rating and issued a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Finally, UBS Group lifted their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $49.65 on Friday, hitting $1,344.07. The company’s stock had a trading volume of 2,409,983 shares, compared to its average volume of 2,322,994. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The company has a market capitalization of $622.87 billion, a price-to-earnings ratio of 49.82, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The stock’s 50-day moving average is $1,306.70 and its two-hundred day moving average is $1,134.07. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the previous year, the business posted $9.83 EPS. On average, equities research analysts forecast that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The company 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. 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%.

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.