Broadcom Ltd (AVGO) Stake Decreased by Addenda Capital Inc.
Addenda Capital Inc. decreased its holdings in Broadcom Ltd (NASDAQ:AVGO) by 10.2% in the fourth quarter, HoldingsChannel reports. The firm owned 45,099 shares of the semiconductor manufacturer’s stock after selling 5,141 shares during the period. Broadcom comprises about 0.8% of Addenda Capital Inc.’s portfolio, making the stock its 28th largest position. Addenda Capital Inc.’s holdings in Broadcom were worth $11,586,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of AVGO. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Broadcom in the 2nd quarter worth $113,000. AllSquare Wealth Management LLC purchased a new position in Broadcom in the 3rd quarter worth $113,000. Tower Research Capital LLC TRC raised its stake in Broadcom by 473.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock worth $134,000 after acquiring an additional 473 shares during the last quarter. Carroll Financial Associates Inc. raised its stake in Broadcom by 59.0% in the 3rd quarter. Carroll Financial Associates Inc. now owns 593 shares of the semiconductor manufacturer’s stock worth $144,000 after acquiring an additional 220 shares during the last quarter. Finally, Balentine LLC raised its stake in Broadcom by 21.9% in the 2nd quarter. Balentine LLC now owns 635 shares of the semiconductor manufacturer’s stock worth $148,000 after acquiring an additional 114 shares during the last quarter. 88.48% of the stock is owned by hedge funds and other institutional investors.
Shares of Broadcom Ltd (AVGO) traded down $0.14 during trading on Friday, hitting $263.36. The company had a trading volume of 881,171 shares, compared to its average volume of 2,603,950. The company has a current ratio of 6.26, a quick ratio of 5.68 and a debt-to-equity ratio of 0.75. Broadcom Ltd has a 1 year low of $175.40 and a 1 year high of $285.68. The stock has a market cap of $107,310.00, a price-to-earnings ratio of 67.01, a PEG ratio of 1.16 and a beta of 1.04.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Tuesday, December 19th were paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Monday, December 18th. This is a positive change from Broadcom’s previous quarterly dividend of $1.02. Broadcom’s payout ratio is currently 178.12%.
In related news, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $247.83, for a total value of $4,956,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas H. Krause sold 656 shares of Broadcom stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $264.38, for a total value of $173,433.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,674 shares of company stock valued at $22,311,790. 3.60% of the stock is owned by company insiders.
A number of brokerages recently issued reports on AVGO. Vetr lowered Broadcom from a “buy” rating to a “hold” rating and set a $273.40 target price for the company. in a research note on Wednesday. BidaskClub lowered Broadcom from a “hold” rating to a “sell” rating in a research note on Thursday. Jefferies Group set a $286.00 target price on Broadcom and gave the stock a “buy” rating in a research note on Wednesday, October 18th. B. Riley restated a “buy” rating and issued a $315.00 target price on shares of Broadcom in a research note on Monday, November 20th. Finally, Susquehanna Bancshares raised their target price on Broadcom from $300.00 to $325.00 and gave the stock a “positive” rating in a research note on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $302.66.
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Broadcom Company Profile
Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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