Te Ahumairangi Investment Management Ltd Reduces Holdings in Broadcom Inc. (NASDAQ:AVGO)

Te Ahumairangi Investment Management Ltd lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 21.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,226 shares of the semiconductor manufacturer’s stock after selling 8,384 shares during the quarter. Broadcom comprises about 1.5% of Te Ahumairangi Investment Management Ltd’s portfolio, making the stock its 18th largest position. Te Ahumairangi Investment Management Ltd’s holdings in Broadcom were worth $7,008,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AVGO. Canton Hathaway LLC bought a new stake in Broadcom in the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $26,000. Sellwood Investment Partners LLC purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $32,000. Bellevue Asset Management LLC bought a new stake in shares of Broadcom during the 4th quarter worth approximately $33,000. Finally, Synergy Investment Management LLC purchased a new position in Broadcom during the 4th quarter valued at $35,000. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Truist Financial lifted their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. TD Cowen increased their price objective on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Evercore ISI increased their price target on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 785,976 shares of company stock valued at $147,912,102. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $168.52 on Wednesday. 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 Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company’s 50 day moving average is $206.64 and its 200 day moving average is $196.54. The company has a market cap of $792.37 billion, a PE ratio of 137.46, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.40%. Broadcom’s dividend payout ratio is presently 113.46%.

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.