Broadcom Inc. (NASDAQ:AVGO) Shares Sold by True North Advisors LLC

True North Advisors LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,857 shares of the semiconductor manufacturer’s stock after selling 4,769 shares during the period. Broadcom comprises 0.8% of True North Advisors LLC’s investment portfolio, making the stock its 22nd largest position. True North Advisors LLC’s holdings in Broadcom were worth $4,664,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Broadcom by 0.4% during the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock worth $79,900,968,000 after purchasing an additional 2,085,534 shares in the last quarter. Northern Trust Corp increased its stake in shares of Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer’s stock worth $11,380,411,000 after buying an additional 5,258,925 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer’s stock worth $11,018,089,000 after buying an additional 15,171,849 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Broadcom by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer’s stock worth $7,975,616,000 after buying an additional 581,704 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Broadcom by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer’s stock worth $5,668,134,000 after buying an additional 1,043,948 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVGO has been the subject of a number of research analyst reports. Evercore ISI restated an “outperform” rating and issued a $304.00 price target (up previously from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Mizuho boosted their target price on shares of Broadcom from $315.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Wall Street Zen lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Saturday. Barclays boosted their target price on shares of Broadcom from $215.00 to $265.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. Finally, UBS Group boosted their target price on shares of Broadcom from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Two analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $294.92.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 800 shares of the company’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $274.30, for a total transaction of $219,440.00. Following the completion of the sale, the director directly owned 24,582 shares of the company’s stock, valued at approximately $6,742,842.60. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the transaction, the director owned 33,352 shares in the company, valued at $8,842,615.76. This represents a 8.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock worth $217,224,641 in the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO stock opened at $304.97 on Friday. The company has a market capitalization of $1.43 trillion, a P/E ratio of 114.22, a PEG ratio of 2.16 and a beta of 1.15. The company has a 50-day simple moving average of $272.87 and a 200 day simple moving average of $226.82. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $310.34. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the prior year, the company earned $10.96 EPS. Broadcom’s revenue was up 20.2% on a year-over-year basis. Sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom’s dividend payout ratio is presently 88.39%.

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.