Americana Partners LLC Reduces Holdings in Broadcom Inc. (NASDAQ:AVGO)

Americana Partners LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,701 shares of the semiconductor manufacturer’s stock after selling 84 shares during the quarter. Americana Partners LLC’s holdings in Broadcom were worth $1,899,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Broadcom during the fourth quarter worth $2,222,676,000. Moneta Group Investment Advisors LLC grew its stake in Broadcom by 122,794.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock worth $2,050,420,000 after acquiring an additional 3,664,177 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Broadcom by 113,495.7% during 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 in the last quarter. Providence Capital Advisors LLC boosted its holdings in shares of Broadcom by 49,919.1% in the first quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock valued at $3,799,000 after purchasing an additional 2,432,559 shares during the period. Finally, Wellington Management Group LLP grew its stake 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 worth $3,343,631,000 after purchasing an additional 1,228,755 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $1,339.43 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The company’s fifty day moving average price is $1,289.24 and its 200-day moving average price is $1,088.71. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The firm has a market capitalization of $620.72 billion, a PE ratio of 49.65, a price-to-earnings-growth ratio of 2.86 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results 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 return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the previous year, the business earned $9.83 EPS. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, equities research analysts predict that Broadcom Inc. will post 36.31 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 1.57%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $1,367.52, for a total value of $3,418,800.00. Following the sale, the insider now owns 44,474 shares in the company, valued at $60,819,084.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Hock E. Tan sold 2,000 shares of Broadcom 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 transaction of $2,624,500.00. Following the completion of the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $1,367.52, for a total value of $3,418,800.00. Following the completion of the sale, the insider now owns 44,474 shares in the company, valued at approximately $60,819,084.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,310 shares of company stock valued at $32,840,567. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup reiterated a “buy” rating and issued a $1,100.00 target price on shares of Broadcom in a report on Monday, December 11th. UBS Group upped their target price on Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Oppenheimer reiterated an “outperform” rating and issued a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Barclays assumed coverage on Broadcom in a research report on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 price target for the company. Finally, TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $1,255.18.

Broadcom 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.