Handelsbanken Fonder AB Sells 133,113 Shares of Broadcom Inc. (NASDAQ:AVGO)

Handelsbanken Fonder AB trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,830,700 shares of the semiconductor manufacturer’s stock after selling 133,113 shares during the quarter. Broadcom accounts for approximately 2.5% of Handelsbanken Fonder AB’s portfolio, making the stock its 4th biggest position. Handelsbanken Fonder AB’s holdings in Broadcom were worth $656,269,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after acquiring an additional 166,844,263 shares during the period. Geode Capital Management LLC raised its position in Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the period. FMR LLC lifted its stake in Broadcom by 1,121.3% during the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after purchasing an additional 82,998,328 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Broadcom by 842.4% during the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after buying an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Broadcom by 975.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after buying an additional 30,674,902 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

NASDAQ AVGO opened at $218.61 on Friday. The company has a fifty day moving average of $230.09 and a two-hundred day moving average of $190.11. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The company has a market capitalization of $1.02 trillion, a PE ratio of 178.32, a P/E/G ratio of 2.37 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the company posted $0.98 EPS. The company’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 192.50%.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

AVGO has been the subject of a number of research analyst reports. Benchmark restated a “buy” rating and set a $255.00 target price (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Robert W. Baird lifted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. TD Cowen upped their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Morgan Stanley decreased their price target on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Barclays upped their price objective on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $225.04.

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.