Broadcom Inc. (NASDAQ:AVGO) is Smart Portfolios LLC’s 7th Largest Position

Smart Portfolios LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,712 shares of the semiconductor manufacturer’s stock after selling 588 shares during the period. Broadcom comprises approximately 2.4% of Smart Portfolios LLC’s holdings, making the stock its 7th biggest holding. Smart Portfolios LLC’s holdings in Broadcom were worth $2,252,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AVGO. Swedbank AB boosted its position in Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the last quarter. Howard Capital Management Group LLC lifted its holdings in shares of Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after acquiring an additional 2,908 shares in the last quarter. Pettinga Financial Advisors LLC lifted its holdings in shares of Broadcom by 896.9% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer’s stock valued at $502,000 after acquiring an additional 2,619 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Broadcom by 884.6% during the 3rd quarter. Impax Asset Management Group plc now owns 119,529 shares of the semiconductor manufacturer’s stock valued at $20,619,000 after acquiring an additional 107,389 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after buying an additional 6,540,800 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 3.1 %

AVGO stock opened at $190.09 on Wednesday. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a market cap of $893.79 billion, a price-to-earnings ratio of 155.05, a PEG ratio of 2.29 and a beta of 1.01. The company has a 50 day moving average of $220.42 and a two-hundred day moving average of $193.44.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping 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 company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The company’s revenue was up 51.2% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.24%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Analyst Ratings Changes

Several research firms recently issued reports on AVGO. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Evercore ISI boosted their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. TD Cowen boosted their target price on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. KeyCorp upped their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Finally, Benchmark reiterated a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $231.48.

Insider Transactions at Broadcom

In related news, CFO Kirsten M. Spears sold 12,570 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $229.62, for a total value of $2,886,323.40. Following the transaction, the chief financial officer now directly owns 325,443 shares in the company, valued at approximately $74,728,221.66. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 in the last 90 days. 2.00% of the stock is owned by insiders.

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.