Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Sutton Place Investors LLC

Sutton Place Investors LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,873 shares of the semiconductor manufacturer’s stock after selling 95 shares during the quarter. Sutton Place Investors LLC’s holdings in Broadcom were worth $666,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. AMF Tjanstepension AB boosted its position in Broadcom by 856.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock valued at $175,101,000 after purchasing an additional 908,585 shares during the period. Czech National Bank boosted its position in Broadcom by 1,042.3% during the 3rd quarter. Czech National Bank now owns 948,249 shares of the semiconductor manufacturer’s stock valued at $163,573,000 after purchasing an additional 865,238 shares during the period. Alpha Financial Partners LLC acquired a new position in Broadcom during the 3rd quarter valued at approximately $404,000. Bank of New Hampshire boosted its position in Broadcom by 954.5% during the 3rd quarter. Bank of New Hampshire now owns 580 shares of the semiconductor manufacturer’s stock valued at $100,000 after purchasing an additional 525 shares during the period. Finally, Kure Advisory LLC acquired a new position in Broadcom during the 3rd quarter valued at approximately $206,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last quarter. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AVGO. Morgan Stanley reduced their price objective on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Robert W. Baird lifted their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Mizuho lifted their target price on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Performance

Shares of AVGO stock opened at $222.43 on Wednesday. The stock’s fifty day simple moving average is $214.47 and its 200-day simple moving average is $182.60. 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 Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 181.43, a P/E/G ratio of 2.31 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 192.50%.

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.