JARISLOWSKY FRASER Ltd Sells 100 Shares of Broadcom Inc. (NASDAQ:AVGO)

JARISLOWSKY FRASER Ltd lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,000 shares of the semiconductor manufacturer’s stock after selling 100 shares during the period. JARISLOWSKY FRASER Ltd’s holdings in Broadcom were worth $464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Jefferies Financial Group Inc. lifted its holdings in shares of Broadcom by 1,270.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 132,015 shares of the semiconductor manufacturer’s stock worth $30,606,000 after acquiring an additional 122,379 shares during the period. Humankind Investments LLC bought a new stake in shares of Broadcom during the 4th quarter worth approximately $256,000. Gotham Asset Management LLC lifted its holdings in shares of Broadcom by 2.4% during the 4th quarter. Gotham Asset Management LLC now owns 215,258 shares of the semiconductor manufacturer’s stock worth $49,905,000 after acquiring an additional 5,067 shares during the period. Flight Deck Capital LP bought a new stake in shares of Broadcom during the 4th quarter worth approximately $12,890,000. Finally, Fosun International Ltd lifted its holdings in shares of Broadcom by 28.7% during the 4th quarter. Fosun International Ltd now owns 3,089 shares of the semiconductor manufacturer’s stock worth $716,000 after acquiring an additional 689 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $208.26 on Monday. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88. The firm has a fifty day simple moving average of $182.95 and a 200 day simple moving average of $197.68. The company has a market capitalization of $979.23 billion, a PE ratio of 169.87, a P/E/G ratio of 2.29 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Broadcom announced that its board has approved a stock repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVGO. Citigroup dropped their price objective on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Barclays dropped their price objective on shares of Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley increased their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Bank of America dropped their price objective on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $229.48.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 800 shares of Broadcom stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares of the company’s stock, valued at approximately $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the sale, the insider now directly owns 465,956 shares of the company’s stock, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 719,776 shares of company stock valued at $131,065,542 over the last quarter. Insiders own 2.00% of the company’s stock.

About Broadcom

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.