Twin Capital Management Inc. trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,412 shares of the semiconductor manufacturer’s stock after selling 344 shares during the quarter. Broadcom comprises approximately 1.4% of Twin Capital Management Inc.’s portfolio, making the stock its 11th largest holding. Twin Capital Management Inc.’s holdings in Broadcom were worth $10,506,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of AVGO. CapWealth Advisors LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at approximately $236,000. Delta Financial Advisors LLC raised its position in shares of Broadcom by 98.6% during the 4th quarter. Delta Financial Advisors LLC now owns 1,396 shares of the semiconductor manufacturer’s stock valued at $1,559,000 after buying an additional 693 shares during the period. Groesbeck Investment Management Corp NJ raised its position in shares of Broadcom by 3.1% during the 4th quarter. Groesbeck Investment Management Corp NJ now owns 3,312 shares of the semiconductor manufacturer’s stock valued at $3,697,000 after buying an additional 100 shares during the period. Federated Hermes Inc. raised its position in shares of Broadcom by 42.6% during the 4th quarter. Federated Hermes Inc. now owns 144,757 shares of the semiconductor manufacturer’s stock valued at $161,585,000 after buying an additional 43,210 shares during the period. Finally, Peterson Wealth Services raised its position in shares of Broadcom by 4.3% during the 4th quarter. Peterson Wealth Services now owns 7,454 shares of the semiconductor manufacturer’s stock valued at $8,321,000 after buying an additional 304 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now directly owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.
Wall Street Analyst Weigh In
Check Out Our Latest Report on AVGO
Broadcom Stock Down 0.8 %
Shares of AVGO stock traded down $10.51 on Thursday, reaching $1,272.12. 967,048 shares of the stock were exchanged, compared to its average volume of 2,927,562. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The business’s 50 day moving average price is $1,307.00 and its 200 day moving average price is $1,115.19. The company has a market capitalization of $589.53 billion, a price-to-earnings ratio of 47.70, a PEG ratio of 2.71 and a beta of 1.25. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17.
Broadcom (NASDAQ:AVGO – Get Free Report) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 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 the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.83 earnings per share. As a group, sell-side analysts expect that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.
Broadcom Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.65%. Broadcom’s payout ratio is currently 77.84%.
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.
Featured Stories
- Five stocks we like better than Broadcom
- There Are Different Types of Stock To Invest In
- Comprehensive PepsiCo Stock Analysis
- Unveiling The Power Of VWAP: A Key Indicator For Traders
- CSX Co.: The Railroad Powering Ahead with an Earnings Beat
- Earnings Per Share Calculator: How to Calculate EPS
- 3 Steel Stocks Could Soar on New China Tariffs
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.