Vantage Investment Partners LLC Sells 10,585 Shares of Broadcom Inc. $AVGO

Vantage Investment Partners LLC lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,249 shares of the semiconductor manufacturer’s stock after selling 10,585 shares during the quarter. Broadcom comprises about 1.3% of Vantage Investment Partners LLC’s investment portfolio, making the stock its 23rd biggest position. Vantage Investment Partners LLC’s holdings in Broadcom were worth $19,217,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. JCIC Asset Management Inc. bought a new stake in shares of Broadcom during the 3rd quarter worth about $31,000. Longfellow Investment Management Co. LLC acquired a new stake in Broadcom in the 2nd quarter worth approximately $27,000. Teachers Insurance & Annuity Association of America acquired a new stake in Broadcom in the 2nd quarter worth approximately $28,000. Manning & Napier Advisors LLC bought a new stake in Broadcom during the third quarter worth approximately $34,000. Finally, LGT Financial Advisors LLC acquired a new position in Broadcom during the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 0.1%

NASDAQ AVGO opened at $333.24 on Thursday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The stock has a market cap of $1.58 trillion, a PE ratio of 70.01, a PEG ratio of 1.10 and a beta of 1.21. The firm has a 50-day simple moving average of $356.26 and a 200 day simple moving average of $336.89. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating the consensus estimate of $1.87 by $0.08. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The firm had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. During the same quarter in the prior year, the firm posted $1.42 EPS. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were issued a $0.65 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom’s payout ratio is presently 54.62%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AVGO. Evercore ISI boosted their price objective on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Piper Sandler reiterated an “overweight” rating and issued a $430.00 target price (up previously from $375.00) on shares of Broadcom in a report on Friday, December 12th. UBS Group set a $475.00 price target on shares of Broadcom and gave the company a “buy” rating in a report on Monday, December 15th. Morgan Stanley raised their price target on Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Finally, Deutsche Bank Aktiengesellschaft set a $430.00 price objective on Broadcom and gave the stock a “buy” rating in a research note on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $438.61.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $347.12, for a total transaction of $10,413,600.00. Following the completion of the transaction, the insider directly owned 210,573 shares of the company’s stock, valued at approximately $73,094,099.76. This trade represents a 12.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry L. You bought 1,000 shares of the firm’s stock in a transaction dated Thursday, December 18th. The shares were acquired at an average price of $325.13 per share, for a total transaction of $325,130.00. Following the completion of the transaction, the director owned 36,602 shares in the company, valued at $11,900,408.26. This represents a 2.81% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have sold 779,901 shares of company stock worth $284,069,237. 2.00% of the stock is currently owned by company insiders.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.