FreeGulliver LLC Cuts Holdings in Broadcom Inc. (NASDAQ:AVGO)

FreeGulliver LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 26.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,685 shares of the semiconductor manufacturer’s stock after selling 621 shares during the period. FreeGulliver LLC’s holdings in Broadcom were worth $391,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings 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 last quarter. Geode Capital Management LLC lifted its holdings in shares of Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after acquiring an additional 89,975,941 shares during the last quarter. FMR LLC lifted its holdings in shares of Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after acquiring an additional 82,998,328 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after acquiring an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Broadcom by 975.4% in the 3rd 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 acquiring an additional 30,674,902 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $188.67 on Wednesday. The firm has a market cap of $887.12 billion, a price-to-earnings ratio of 153.89, a PEG ratio of 2.29 and a beta of 1.01. The company’s 50 day moving average is $216.48 and its 200 day moving average is $194.61. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 12,570 shares of Broadcom stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the transaction, the chief financial officer now directly owns 325,443 shares of the company’s stock, valued at $74,728,221.66. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,738 shares of company stock valued at $43,395,200 over the last ninety days. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of analyst reports. Evercore ISI increased their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. TD Cowen increased their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Barclays raised their price objective on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

About Broadcom

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.