Kensington Investment Counsel LLC Reduces Holdings in Broadcom Inc. (NASDAQ:AVGO)

Kensington Investment Counsel LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,230 shares of the semiconductor manufacturer’s stock after selling 356 shares during the period. Kensington Investment Counsel LLC’s holdings in Broadcom were worth $1,213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. increased its stake in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares during the period. Canton Hathaway LLC acquired a new position in Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom during the 4th quarter worth $26,000. JDM Financial Group LLC grew its holdings in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC acquired a new position in Broadcom during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 0.5 %

AVGO stock opened at $194.50 on Tuesday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a market capitalization of $914.53 billion, a price-to-earnings ratio of 158.65, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The firm’s 50-day moving average is $217.28 and its two-hundred day moving average is $194.43. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated 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 owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,738 shares of company stock worth $43,395,200. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Benchmark reissued a “buy” rating and set a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Robert W. Baird raised their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. KeyCorp raised their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. William Blair reissued an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Finally, Susquehanna raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $231.48.

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.