Flputnam Investment Management Co. Decreases Position in Broadcom Inc. (NASDAQ:AVGO)

Flputnam Investment Management Co. cut its position in Broadcom Inc. (NASDAQ:AVGO) by 3.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 67,857 shares of the semiconductor manufacturer’s stock after selling 2,165 shares during the quarter. Broadcom accounts for approximately 1.8% of Flputnam Investment Management Co.’s investment portfolio, making the stock its 11th biggest holding. Flputnam Investment Management Co.’s holdings in Broadcom were worth $75,745,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. RMR Wealth Builders grew its position in Broadcom by 6.5% during the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after buying an additional 388 shares during the period. Czech National Bank grew its position in Broadcom by 46.1% during the third quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock valued at $59,909,000 after buying an additional 22,774 shares during the period. CI Investments Inc. grew its position in Broadcom by 89.4% during the third quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock valued at $114,221,000 after buying an additional 64,912 shares during the period. NatWest Group plc grew its position in Broadcom by 8.2% during the fourth quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock valued at $9,263,000 after buying an additional 631 shares during the period. Finally, Rainsberger Wealth Advisors Inc. boosted its position in shares of Broadcom by 1.7% in the fourth quarter. Rainsberger Wealth Advisors Inc. now owns 2,155 shares of the semiconductor manufacturer’s stock worth $2,405,000 after purchasing an additional 36 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Broadcom stock traded down $33.38 during mid-day trading on Monday, reaching $1,310.69. 2,415,731 shares of the company’s stock traded hands, compared to its average volume of 2,975,671. The company has a market cap of $607.40 billion, a price-to-earnings ratio of 50.14, a PEG ratio of 2.74 and a beta of 1.25. The stock has a 50 day moving average of $1,303.01 and a two-hundred day moving average of $1,107.12. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the previous year, the business posted $9.83 earnings per share. The business’s revenue was up 34.2% compared to the same quarter last year. Equities analysts forecast that Broadcom Inc. will post 35.95 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now owns 46,974 shares in the company, valued at $61,957,296.78. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 over the last quarter. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald upped their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. UBS Group upped their price target on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Mizuho upped their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $1,255.18.

Broadcom Company Profile

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.