Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. cut its position in Broadcom Inc. (NASDAQ:AVGO) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,939 shares of the semiconductor manufacturer’s stock after selling 443 shares during the period. Broadcom accounts for 1.8% of Retirement Planning Co of New England Inc.’s holdings, making the stock its 9th largest position. Retirement Planning Co of New England Inc.’s holdings in Broadcom were worth $3,695,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. State Street Corp raised its holdings in Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after acquiring an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares in the last quarter. FMR LLC increased its holdings in shares of Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after buying an additional 30,674,902 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVGO has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Robert W. Baird raised their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. William Blair reiterated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Mizuho cut their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Finally, Morgan Stanley lifted their price target on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Three research 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 an average price target of $231.48.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,738 shares of company stock worth $43,395,200 in the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $194.50 on Tuesday. The firm has a 50 day moving average of $217.28 and a two-hundred day moving average of $194.43. The stock has a market capitalization of $914.53 billion, a PE ratio of 158.65, a P/E/G ratio of 2.29 and a beta of 1.01. 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 Inc. has a 52 week low of $119.76 and a 52 week high of $251.88.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

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.