Charles Schwab Investment Management Inc. Has $5.82 Billion Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Charles Schwab Investment Management Inc. trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,250,416 shares of the semiconductor manufacturer’s stock after selling 43,475 shares during the period. Broadcom comprises 1.5% of Charles Schwab Investment Management Inc.’s holdings, making the stock its 5th biggest holding. Charles Schwab Investment Management Inc.’s holdings in Broadcom were worth $5,824,511,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AVGO. BetterWealth LLC increased its holdings in Broadcom by 1.5% during the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock worth $672,000 after purchasing an additional 9 shares during the period. Sargent Investment Group LLC grew its stake in shares of Broadcom by 1.6% during the fourth quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer’s stock worth $622,000 after purchasing an additional 9 shares in the last quarter. Rise Advisors LLC boosted its position in shares of Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 10 shares in the last quarter. CX Institutional lifted its position in shares of Broadcom by 0.8% during the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock worth $1,439,000 after buying an additional 10 shares during the last quarter. Finally, Cascade Investment Group Inc. lifted its holdings in shares of Broadcom by 1.7% in the 4th 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 during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 1.5 %

AVGO stock traded up $19.10 during midday trading on Wednesday, hitting $1,322.21. The company’s stock had a trading volume of 664,252 shares, compared to its average volume of 2,846,923. The stock has a market capitalization of $612.74 billion, a P/E ratio of 49.54, a PEG ratio of 2.60 and a beta of 1.25. The company’s fifty day moving average price is $1,308.82 and its 200 day moving average price is $1,157.75. Broadcom Inc. has a twelve month low of $615.86 and a twelve month high of $1,438.17. 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 data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period in the prior year, the firm earned $9.83 earnings per share. The company’s revenue was up 34.2% on a year-over-year basis. As a group, equities research analysts predict that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors 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 yield of 1.59%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of several recent research reports. Cantor Fitzgerald boosted their price target on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Mizuho raised their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Finally, Benchmark reaffirmed a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.