Broadcom Inc. (NASDAQ:AVGO) Holdings Reduced by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,273 shares of the semiconductor manufacturer’s stock after selling 122 shares during the period. Broadcom makes up about 2.0% of Argonautica Private Wealth Management Inc.’s investment portfolio, making the stock its 8th largest holding. Argonautica Private Wealth Management Inc.’s holdings in Broadcom were worth $4,770,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Northern Trust Corp grew its holdings in shares of Broadcom by 2.1% in the third quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock worth $3,866,684,000 after acquiring an additional 93,615 shares during the period. Wellington Management Group LLP grew its holdings in shares of Broadcom by 43.9% in the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after acquiring an additional 1,228,755 shares during the period. FMR LLC grew its holdings in shares of Broadcom by 16.7% in the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after acquiring an additional 573,826 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Broadcom by 113,495.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after acquiring an additional 3,324,288 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Broadcom by 19.1% in the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after acquiring an additional 514,120 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Broadcom Trading Up 3.8 %

NASDAQ:AVGO traded up $49.65 during midday trading on Friday, hitting $1,344.07. The stock had a trading volume of 2,409,983 shares, compared to its average volume of 2,322,994. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $622.87 billion, a price-to-earnings ratio of 49.82, a PEG ratio of 2.63 and a beta of 1.25. The stock has a 50-day moving average of $1,306.70 and a 200 day moving average of $1,134.07. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter last year, the firm earned $9.83 EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.56%. Broadcom’s dividend payout ratio is presently 77.84%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AVGO shares. UBS Group boosted their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Susquehanna boosted their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Finally, Benchmark restated a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

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.