Deutsche Bank AG Sells 3,751,383 Shares of Broadcom Inc. (NASDAQ:AVGO)

Deutsche Bank AG lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 24.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,513,550 shares of the semiconductor manufacturer’s stock after selling 3,751,383 shares during the period. Broadcom makes up 1.0% of Deutsche Bank AG’s investment portfolio, making the stock its 12th largest holding. Deutsche Bank AG’s holdings in Broadcom were worth $2,669,301,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Canton Hathaway LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at about $26,000. Sellwood Investment Partners LLC bought a new stake in shares of Broadcom in the fourth quarter worth approximately $32,000. Bellevue Asset Management LLC bought a new stake in shares of Broadcom in the fourth quarter worth approximately $33,000. Finally, Synergy Investment Management LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock valued at $131,065,542 in the last three months. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Benchmark reiterated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Truist Financial upped their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Finally, William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.48.

Broadcom Stock Performance

Shares of Broadcom stock opened at $204.81 on Thursday. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88. The company has a market capitalization of $963.01 billion, a PE ratio of 167.06, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The stock’s fifty day moving average is $182.12 and its two-hundred day moving average is $196.94. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom announced that its board has approved a share repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.15%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

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.