Prime Capital Investment Advisors LLC Trims Stake in Broadcom Inc. (NASDAQ:AVGO)

Prime Capital Investment Advisors LLC trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,201 shares of the semiconductor manufacturer’s stock after selling 1,938 shares during the period. Broadcom accounts for approximately 0.9% of Prime Capital Investment Advisors LLC’s holdings, making the stock its 26th largest position. Prime Capital Investment Advisors LLC’s holdings in Broadcom were worth $62,643,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after acquiring an additional 6,573,204 shares in the last quarter. State Street Corp raised its position in shares of Broadcom by 948.5% during the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares during the period. Geode Capital Management LLC lifted its stake in shares of Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after buying an additional 89,975,941 shares in the last quarter. Norges Bank purchased a new stake in Broadcom in the 4th quarter worth $16,893,010,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Broadcom by 975.4% during the third 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 valued at $5,833,894,000 after acquiring an additional 30,674,902 shares during the period. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research analyst reports. William Blair reiterated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Evercore ISI lifted their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Robert W. Baird upped their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Citigroup boosted their price target 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, Bank of America increased their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Buying and Selling at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 785,976 shares of company stock worth $147,912,102 over the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 1.7 %

Shares of NASDAQ AVGO opened at $169.12 on Friday. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The stock’s fifty day simple moving average is $209.48 and its two-hundred day simple moving average is $195.91. The stock has a market capitalization of $795.19 billion, a PE ratio of 137.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.40%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

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.