Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Reduced by Garrison Asset Management LLC

Garrison Asset Management LLC cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,828 shares of the semiconductor manufacturer’s stock after selling 317 shares during the period. Broadcom makes up approximately 5.8% of Garrison Asset Management LLC’s holdings, making the stock its largest holding. Garrison Asset Management LLC’s holdings in Broadcom were worth $10,963,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. TBH Global Asset Management LLC increased its holdings in Broadcom by 29.2% during the 4th quarter. TBH Global Asset Management LLC now owns 641 shares of the semiconductor manufacturer’s stock valued at $715,000 after acquiring an additional 145 shares in the last quarter. Gilbert & Cook Inc. increased its stake in shares of Broadcom by 4.9% during the 4th quarter. Gilbert & Cook Inc. now owns 837 shares of the semiconductor manufacturer’s stock worth $934,000 after purchasing an additional 39 shares in the last quarter. Aveo Capital Partners LLC raised its position in shares of Broadcom by 15.9% during the 4th quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock worth $512,000 after purchasing an additional 63 shares during the last quarter. 9258 Wealth Management LLC raised its position in shares of Broadcom by 1.5% during the 4th quarter. 9258 Wealth Management LLC now owns 3,884 shares of the semiconductor manufacturer’s stock worth $4,336,000 after purchasing an additional 58 shares during the last quarter. Finally, Gryphon Financial Partners LLC lifted its stake in Broadcom by 99.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock valued at $1,731,000 after buying an additional 801 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 2,540 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total value of $444,566.04. Following the completion of the transaction, the director now directly owns 27,480 shares in the company, valued at $4,809,714.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the sale, the director now directly owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $167.69 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market cap of $780.58 billion, a PE ratio of 7.21, a P/E/G ratio of 2.55 and a beta of 1.16. The company’s fifty day simple moving average is $188.15 and its 200-day simple moving average is $156.84. Broadcom Inc. has a 52 week low of $79.51 and a 52 week high of $185.16.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the prior year, the firm earned $0.95 EPS. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Broadcom Inc. will post 3.77 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 9.12%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AVGO shares. TD Cowen boosted their price target on Broadcom from $175.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Barclays boosted their target price on shares of Broadcom from $150.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Rosenblatt Securities decreased their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Citigroup reiterated a “buy” rating and set a $156.00 price target on shares of Broadcom in a report on Tuesday, June 11th. Finally, Bank of America reissued a “buy” rating and set a $215.00 price objective (up previously from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Two research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $189.23.

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.