Cookson Peirce & Co. Inc. Reduces Holdings in Broadcom Inc. (NASDAQ:AVGO)

Cookson Peirce & Co. Inc. cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,124 shares of the semiconductor manufacturer’s stock after selling 30 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Broadcom were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of AVGO. Macroview Investment Management LLC bought a new position in Broadcom during the 3rd quarter valued at approximately $29,000. BKM Wealth Management LLC bought a new position in Broadcom during the 4th quarter valued at approximately $29,000. CKW Financial Group bought a new position in Broadcom during the 4th quarter valued at approximately $30,000. VitalStone Financial LLC raised its position in Broadcom by 71.4% during the 1st quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock valued at $40,000 after purchasing an additional 25 shares during the last quarter. Finally, Rise Advisors LLC raised its position in Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after purchasing an additional 10 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Justine Page sold 110 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at $4,134,375. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent analyst reports. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $1,281.09.

Broadcom Price Performance

Shares of Broadcom stock opened at $1,329.06 on Wednesday. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The stock’s fifty day moving average is $1,306.49 and its 200 day moving average is $1,114.01. The stock has a market cap of $615.91 billion, a P/E ratio of 49.26, a P/E/G ratio of 2.67 and a beta of 1.25.

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

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.58%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Broadcom 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.