Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Benchmark Investment Advisors LLC

Benchmark Investment Advisors LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,289 shares of the semiconductor manufacturer’s stock after selling 689 shares during the period. Broadcom accounts for about 3.8% of Benchmark Investment Advisors LLC’s holdings, making the stock its 3rd largest holding. Benchmark Investment Advisors LLC’s holdings in Broadcom were worth $5,863,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AVGO. Canton Hathaway LLC acquired a new position in shares of Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom during the fourth quarter worth approximately $26,000. Sellwood Investment Partners LLC acquired a new position in Broadcom during the fourth quarter worth $32,000. Bellevue Asset Management LLC purchased a new stake in Broadcom in the 4th quarter valued at $33,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Broadcom in the 4th quarter worth $35,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 745,976 shares of company stock worth $138,632,902. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 5.0 %

AVGO stock opened at $146.29 on Friday. The company’s 50 day moving average price is $201.57 and its 200 day moving average price is $196.19. The firm has a market capitalization of $687.85 billion, a price-to-earnings ratio of 119.32, a PEG ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AVGO. Jefferies Financial Group upped their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. KeyCorp raised their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Robert W. Baird upped their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Truist Financial raised their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $231.48.

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.