Broadcom Inc. (NASDAQ:AVGO) Position Lowered by Bartlett & Co. LLC

Bartlett & Co. LLC decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 206 shares of the semiconductor manufacturer’s stock after selling 19 shares during the period. Bartlett & Co. LLC’s holdings in Broadcom were worth $115,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Broadcom by 0.5% during the third quarter. Vanguard Group Inc. now owns 37,632,782 shares of the semiconductor manufacturer’s stock worth $16,709,332,000 after purchasing an additional 190,304 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Broadcom by 11.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock worth $2,948,563,000 after acquiring an additional 488,405 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Broadcom by 4.4% in the third quarter. Nuveen Asset Management LLC now owns 4,452,543 shares of the semiconductor manufacturer’s stock worth $1,976,973,000 after acquiring an additional 188,078 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Broadcom by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 4,022,517 shares of the semiconductor manufacturer’s stock worth $1,786,039,000 after acquiring an additional 74,395 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Broadcom by 53.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,420,481 shares of the semiconductor manufacturer’s stock worth $1,528,063,000 after acquiring an additional 1,191,113 shares during the last quarter. Institutional investors own 81.28% of the company’s stock.

Insiders Place Their Bets

In related news, Director Eddy W. Hartenstein sold 3,175 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $625.01, for a total value of $1,984,406.75. Following the completion of the transaction, the director now owns 9,734 shares of the company’s stock, valued at approximately $6,083,847.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is currently owned by company insiders.

Broadcom Trading Down 0.9 %

Broadcom stock opened at $630.97 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.26 and a current ratio of 2.52. The firm has a market cap of $263.06 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. Broadcom Inc. has a 1 year low of $415.07 and a 1 year high of $645.31. The firm’s 50 day moving average price is $597.58 and its two-hundred day moving average price is $536.05.

Broadcom (NASDAQ:AVGO – Get Rating) last posted its quarterly earnings results on Thursday, March 2nd. The semiconductor manufacturer reported $10.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.38 by $0.95. The firm had revenue of $8.92 billion for the quarter, compared to analyst estimates of $8.90 billion. Broadcom had a net margin of 37.19% and a return on equity of 73.52%. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.68 earnings per share. On average, research analysts predict that Broadcom Inc. will post 38.06 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 22nd will be given a $4.60 dividend. The ex-dividend date of this dividend is Tuesday, March 21st. This represents a $18.40 annualized dividend and a yield of 2.92%. Broadcom’s dividend payout ratio (DPR) is 61.93%.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent research reports. Cowen raised their target price on shares of Broadcom from $540.00 to $555.00 in a report on Friday, December 9th. Mizuho reissued a “buy” rating and issued a $720.00 target price on shares of Broadcom in a report on Friday. Bank of America raised their price target on shares of Broadcom from $680.00 to $725.00 in a research note on Friday, March 3rd. Piper Sandler dropped their price target on shares of Broadcom from $750.00 to $715.00 and set an “overweight” rating on the stock in a research note on Monday, December 5th. Finally, Oppenheimer restated an “outperform” rating and issued a $720.00 price target on shares of Broadcom in a research note on Monday, December 5th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $674.17.

Broadcom Company Profile

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Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.