Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Leelyn Smith LLC

Leelyn Smith LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,311 shares of the semiconductor manufacturer’s stock after selling 840 shares during the quarter. Leelyn Smith LLC’s holdings in Broadcom were worth $2,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Haven Capital Group Inc. acquired a new stake in Broadcom in the fourth quarter worth about $19,166,000. Primecap Management Co. CA raised its position in shares of Broadcom by 0.8% during the 4th quarter. Primecap Management Co. CA now owns 957,880 shares of the semiconductor manufacturer’s stock worth $222,075,000 after buying an additional 7,245 shares in the last quarter. Tocqueville Asset Management L.P. lifted its stake in shares of Broadcom by 2.4% in the 4th quarter. Tocqueville Asset Management L.P. now owns 152,366 shares of the semiconductor manufacturer’s stock worth $35,325,000 after acquiring an additional 3,592 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Broadcom by 202.9% in the fourth quarter. William Blair Investment Management LLC now owns 647,615 shares of the semiconductor manufacturer’s stock valued at $150,143,000 after acquiring an additional 433,787 shares in the last quarter. Finally, Arrien Investments Inc. acquired a new position in shares of Broadcom during the fourth quarter valued at approximately $231,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value 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 represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,738 shares of company stock worth $43,395,200. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AVGO. Deutsche Bank Aktiengesellschaft upped their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. KeyCorp raised their target price on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Truist Financial lifted their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Mizuho lowered their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Performance

Shares of AVGO opened at $194.50 on Tuesday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market capitalization of $914.53 billion, a PE ratio of 158.65, a PEG ratio of 2.29 and a beta of 1.01. The company’s 50 day moving average price is $217.28 and its 200 day moving average price is $194.43.

Broadcom Dividend Announcement

The business 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 $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, March 20th. 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.