Amussen Hunsaker Associates LLC lessened its position in Broadcom Inc (NASDAQ:AVGO) by 16.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,008 shares of the semiconductor manufacturer’s stock after selling 195 shares during the period. Amussen Hunsaker Associates LLC’s holdings in Broadcom were worth $256,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of AVGO. Accurate Investment Solutions Inc. bought a new position in Broadcom in the fourth quarter worth approximately $25,000. Ruggie Capital Group bought a new position in shares of Broadcom in the fourth quarter valued at approximately $25,000. AlphaOne Investment Services LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $25,000. Advisors Preferred LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $32,000. Finally, Karp Capital Management Corp bought a new position in shares of Broadcom in the fourth quarter valued at approximately $36,000. 86.95% of the stock is owned by institutional investors and hedge funds.
NASDAQ:AVGO traded down $1.91 during mid-day trading on Friday, reaching $318.62. 2,654,805 shares of the company’s stock traded hands, compared to its average volume of 2,155,141. Broadcom Inc has a 12-month low of $197.46 and a 12-month high of $322.45. The company has a market cap of $126.12 billion, a PE ratio of 16.92, a P/E/G ratio of 1.49 and a beta of 0.68. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.27 and a quick ratio of 1.14.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $2.65 per share. The ex-dividend date was Wednesday, March 20th. This represents a $10.60 dividend on an annualized basis and a dividend yield of 3.33%. Broadcom’s dividend payout ratio (DPR) is 56.29%.
In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $315.07, for a total transaction of $6,301,400.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas H. Krause sold 14,494 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $295.45, for a total value of $4,282,252.30. The disclosure for this sale can be found here. Insiders have sold a total of 87,824 shares of company stock worth $26,390,919 in the last quarter. Company insiders own 3.30% of the company’s stock.
A number of research firms have recently weighed in on AVGO. ValuEngine upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Thursday. Mizuho increased their price target on Broadcom from $305.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, April 12th. KeyCorp reaffirmed an “overweight” rating and set a $335.00 price target (up from $310.00) on shares of Broadcom in a research report on Tuesday, April 2nd. BidaskClub raised Broadcom from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th. Finally, Zacks Investment Research downgraded Broadcom from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty-two have assigned a buy rating to the stock. Broadcom has a consensus rating of “Buy” and a consensus price target of $302.60.
Broadcom Company Profile
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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