Abacus Planning Group Inc. Sells 28 Shares of Broadcom Inc. (NASDAQ:AVGO)

Abacus Planning Group Inc. lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 7.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 348 shares of the semiconductor manufacturer’s stock after selling 28 shares during the period. Abacus Planning Group Inc.’s holdings in Broadcom were worth $389,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Cantor Fitzgerald Investment Advisor L.P lifted its position in shares of Broadcom by 94.4% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after buying an additional 36,458 shares during the last quarter. Fairfield Bush & CO. raised its stake in Broadcom by 2.6% in the 1st quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after acquiring an additional 123 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Broadcom by 20.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after purchasing an additional 87,945 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in Broadcom by 1.1% during the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after purchasing an additional 420 shares during the period. Finally, Ergoteles LLC purchased a new position in shares of Broadcom in the first quarter worth about $1,095,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AVGO shares. Susquehanna raised their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Summit Insights upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. Finally, Barclays assumed coverage on Broadcom in a report on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 target price for the company. Three analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,230.18.

Get Our Latest Research Report on Broadcom

Broadcom Stock Up 0.5 %

Shares of NASDAQ:AVGO opened at $1,325.41 on Friday. The firm has a market capitalization of $614.22 billion, a PE ratio of 49.13, a price-to-earnings-growth ratio of 2.79 and a beta of 1.26. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The firm has a fifty day moving average of $1,277.76 and a 200 day moving average of $1,068.32.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during 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 company’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the prior year, the business earned $9.83 EPS. As a group, research analysts anticipate that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Insider Transactions at Broadcom

In related news, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the transaction, the chief financial officer now owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the transaction, the chief financial officer now owns 26,880 shares in the company, valued at approximately $28,039,603.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,810 shares of company stock worth $26,107,692. 2.00% of the stock is currently owned by insiders.

Broadcom Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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