Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,885 shares of the semiconductor manufacturer’s stock after selling 4,482 shares during the quarter. Broadcom comprises 2.3% of Woodmont Investment Counsel LLC’s holdings, making the stock its 9th largest holding. Woodmont Investment Counsel LLC’s holdings in Broadcom were worth $30,576,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock valued at $110,155,206,000 after purchasing an additional 6,573,204 shares in the last quarter. State Street Corp grew its holdings in shares of Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after buying an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Broadcom by 976.6% during the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after acquiring an additional 89,975,941 shares in the last quarter. FMR LLC raised its holdings in shares of Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after acquiring an additional 82,998,328 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after acquiring an additional 30,674,902 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on AVGO shares. Bank of America boosted their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Barclays increased their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Citigroup upped their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler raised their price target on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Performance

Shares of AVGO stock opened at $191.66 on Monday. The firm’s 50 day moving average is $214.38 and its 200 day moving average is $195.37. The stock has a market capitalization of $901.18 billion, a P/E ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Insider Activity

In related news, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 157,168 shares of company stock worth $37,108,677. 2.00% of the stock is owned by corporate insiders.

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.