HBW Advisory Services LLC Sells 15,414 Shares of Broadcom Inc. (NASDAQ:AVGO)

HBW Advisory Services LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 50.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 14,867 shares of the semiconductor manufacturer’s stock after selling 15,414 shares during the period. HBW Advisory Services LLC’s holdings in Broadcom were worth $2,489,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Tallon Kerry Patrick purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $357,000. Capital & Planning LLC raised its holdings in shares of Broadcom by 15.3% in the fourth quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer’s stock worth $969,000 after buying an additional 554 shares during the last quarter. LaFleur & Godfrey LLC raised its holdings in shares of Broadcom by 18.7% in the fourth quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer’s stock worth $18,145,000 after buying an additional 12,345 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after buying an additional 5,322 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Broadcom during the fourth quarter valued at $71,312,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

NASDAQ:AVGO opened at $248.71 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market capitalization of $1.17 trillion, a PE ratio of 202.86, a P/E/G ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $251.88. The company has a fifty day moving average of $196.77 and a two-hundred day moving average of $204.25.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Broadcom declared that its board has authorized a share buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AVGO shares. Barclays lowered their price target on Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Seaport Res Ptn upgraded Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Susquehanna raised their price target on shares of Broadcom from $250.00 to $280.00 and gave the stock a “positive” rating in a research report on Thursday, May 29th. William Blair restated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Bank of America decreased their target price on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.77.

Insider Buying and Selling

In other news, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction on 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 directly owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 720,576 shares of company stock worth $131,249,694. Insiders own 2.00% of the company’s stock.

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.