Strategy Asset Managers LLC Sells 6,050 Shares of Broadcom Inc. (NASDAQ:AVGO)

Strategy Asset Managers LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 127,286 shares of the semiconductor manufacturer’s stock after selling 6,050 shares during the period. Broadcom accounts for 5.7% of Strategy Asset Managers LLC’s portfolio, making the stock its largest holding. Strategy Asset Managers LLC’s holdings in Broadcom were worth $29,510,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of AVGO. Howard Capital Management Group LLC lifted its position in shares of Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after buying an additional 2,908 shares during the period. Principal Financial Group Inc. raised its stake in shares of Broadcom by 1,019.4% in the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after acquiring an additional 6,540,800 shares during the last quarter. Quest Partners LLC increased its holdings in Broadcom by 3,295.8% during the 3rd quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer’s stock valued at $141,000 after purchasing an additional 791 shares in the last quarter. Insight Wealth Partners LLC lifted its position in Broadcom by 898.5% during the 3rd quarter. Insight Wealth Partners LLC now owns 7,259 shares of the semiconductor manufacturer’s stock worth $1,252,000 after buying an additional 6,532 shares in the last quarter. Finally, Freedom Investment Management Inc. bought a new position in Broadcom in the 3rd quarter worth approximately $1,577,000. 76.43% of the stock is owned by institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the 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 trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 785,976 shares of company stock worth $147,912,102. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $169.12 on Friday. The business has a 50 day moving average of $209.48 and a 200-day moving average of $195.91. The company has a market capitalization of $795.19 billion, a P/E ratio of 137.95, a P/E/G 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.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent research reports. Susquehanna raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Bank of America raised their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Barclays boosted their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research note 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, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

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.