IPG Investment Advisors LLC Cuts Position in Broadcom Inc. (NASDAQ:AVGO)

IPG Investment Advisors LLC lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 19,990 shares of the semiconductor manufacturer’s stock after selling 2,575 shares during the period. Broadcom makes up approximately 1.1% of IPG Investment Advisors LLC’s holdings, making the stock its 26th largest holding. IPG Investment Advisors LLC’s holdings in Broadcom were worth $4,634,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Howard Capital Management Group LLC raised its position in Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after acquiring an additional 2,908 shares during the period. Principal Financial Group Inc. increased its stake in shares of Broadcom by 1,019.4% during the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after purchasing an additional 6,540,800 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Broadcom by 858.9% during the third quarter. Rockefeller Capital Management L.P. now owns 2,599,462 shares of the semiconductor manufacturer’s stock worth $456,095,000 after purchasing an additional 2,328,367 shares in the last quarter. Atlantic Union Bankshares Corp lifted its stake in Broadcom by 896.8% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 160,706 shares of the semiconductor manufacturer’s stock valued at $27,722,000 after buying an additional 144,584 shares in the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Broadcom by 903.0% in the 3rd quarter. Captrust Financial Advisors now owns 1,025,690 shares of the semiconductor manufacturer’s stock worth $176,932,000 after buying an additional 923,426 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 785,976 shares of company stock valued at $147,912,102 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Down 1.7 %

Shares of NASDAQ:AVGO opened at $169.12 on Friday. The firm has a market capitalization of $795.19 billion, a PE ratio of 137.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm’s 50-day moving average is $209.48 and its two-hundred day moving average is $196.25.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.40%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AVGO shares. Barclays increased their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Benchmark restated a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. KeyCorp lifted their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Mizuho reduced their target price on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Three investment 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, the company currently has a consensus 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.