Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Reduced by Factory Mutual Insurance Co.

Factory Mutual Insurance Co. lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 101,230 shares of the semiconductor manufacturer’s stock after selling 2,300 shares during the quarter. Broadcom comprises approximately 1.4% of Factory Mutual Insurance Co.’s holdings, making the stock its 15th largest position. Factory Mutual Insurance Co.’s holdings in Broadcom were worth $112,998,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Morningstar Investment Services LLC lifted its position in shares of Broadcom by 50.1% during the 2nd quarter. Morningstar Investment Services LLC now owns 755 shares of the semiconductor manufacturer’s stock worth $649,000 after purchasing an additional 252 shares during the last quarter. RMR Wealth Builders lifted its position in shares of Broadcom by 6.5% during the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after purchasing an additional 388 shares during the last quarter. Czech National Bank raised its holdings in Broadcom by 46.1% in the 3rd quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock valued at $59,909,000 after acquiring an additional 22,774 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Broadcom in the 2nd quarter valued at approximately $4,684,000. Finally, Aspen Grove Capital LLC raised its holdings in shares of Broadcom by 3.5% in the 2nd quarter. Aspen Grove Capital LLC now owns 1,486 shares of the semiconductor manufacturer’s stock worth $1,289,000 after buying an additional 50 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVGO. Cantor Fitzgerald increased their target price on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Susquehanna raised their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,230.18.

View Our Latest Stock Analysis on AVGO

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $22.50 during mid-day trading on Wednesday, reaching $1,361.26. The company had a trading volume of 374,116 shares, compared to its average volume of 3,020,778. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The firm has a market cap of $630.84 billion, a price-to-earnings ratio of 49.62, a PEG ratio of 2.85 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The company’s 50-day moving average price is $1,282.61 and its 200-day moving average price is $1,078.22.

Broadcom (NASDAQ:AVGOGet Free Report) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the business earned $9.83 EPS. As a group, equities research analysts anticipate that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.54%. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Insider Activity

In other news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the sale, the insider now directly owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the sale, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The disclosure for this sale can be found here. Insiders sold 22,310 shares of company stock worth $29,405,117 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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