Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,250,416 shares of the semiconductor manufacturer’s stock after selling 43,475 shares during the quarter. Broadcom comprises approximately 1.5% of Charles Schwab Investment Management Inc.’s portfolio, making the stock its 5th biggest position. Charles Schwab Investment Management Inc. owned about 1.12% of Broadcom worth $5,824,511,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BetterWealth LLC increased its position in Broadcom by 1.5% in the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock worth $672,000 after buying an additional 9 shares during the period. Sargent Investment Group LLC grew its position in shares of Broadcom by 1.6% during the 4th quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer’s stock worth $622,000 after buying an additional 9 shares during the period. Rise Advisors LLC lifted its holdings in Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after buying an additional 10 shares during the period. CX Institutional boosted its stake in Broadcom by 0.8% in the fourth quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after acquiring an additional 10 shares during the last quarter. Finally, Cascade Investment Group Inc. raised its position in shares of Broadcom by 1.7% during the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $680,000 after acquiring an additional 10 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

NASDAQ AVGO traded up $19.10 on Wednesday, hitting $1,322.21. 664,252 shares of the stock traded hands, compared to its average volume of 2,846,923. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The firm has a market capitalization of $612.74 billion, a price-to-earnings ratio of 49.54, a PEG ratio of 2.60 and a beta of 1.25. Broadcom Inc. has a 12 month low of $615.86 and a 12 month high of $1,438.17. The business’s fifty day moving average is $1,308.82 and its two-hundred day moving average is $1,157.75.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.83 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.59%. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the transaction, the insider now directly owns 46,974 shares in the company, valued at $61,957,296.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Susquehanna raised their target price on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Evercore ISI started coverage on Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price for the company. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.