Cerity Partners LLC Sells 92,357 Shares of Broadcom Inc. (NASDAQ:AVGO)

Cerity Partners LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,908,930 shares of the semiconductor manufacturer’s stock after selling 92,357 shares during the quarter. Broadcom accounts for 0.9% of Cerity Partners LLC’s investment portfolio, making the stock its 18th largest position. Cerity Partners LLC’s holdings in Broadcom were worth $424,524,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. 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 valued at $524,000 after buying an additional 2,908 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Broadcom by 1,019.4% during 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 purchasing an additional 6,540,800 shares during the last quarter. Tenere Capital LLC boosted its position in Broadcom by 1,181.5% during the third quarter. Tenere Capital LLC now owns 91,677 shares of the semiconductor manufacturer’s stock worth $15,814,000 after purchasing an additional 84,523 shares during the period. Dunhill Financial LLC boosted its position in Broadcom by 1,865.2% during the third quarter. Dunhill Financial LLC now owns 904 shares of the semiconductor manufacturer’s stock worth $156,000 after purchasing an additional 858 shares during the period. Finally, Dorsey Wright & Associates increased its stake in shares of Broadcom by 932.5% in the third quarter. Dorsey Wright & Associates now owns 43,634 shares of the semiconductor manufacturer’s stock worth $7,527,000 after purchasing an additional 39,408 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 5.0 %

Shares of AVGO opened at $146.29 on Monday. The firm has a market cap of $687.85 billion, a P/E ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock has a 50 day simple moving average of $201.57 and a two-hundred day simple moving average of $196.43. 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 announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Buying and Selling

In other news, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 697,976 shares of company stock worth $127,336,102 in the last 90 days. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on AVGO shares. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Robert W. Baird increased their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Bank of America lifted their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Evercore ISI raised their target price on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.