Swedbank AB Decreases Stake in Broadcom Inc. (NASDAQ:AVGO)

Swedbank AB trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,469,551 shares of the semiconductor manufacturer’s stock after selling 1,900,290 shares during the quarter. Broadcom makes up about 4.7% of Swedbank AB’s portfolio, making the stock its 4th largest holding. Swedbank AB owned about 0.35% of Broadcom worth $3,818,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. Castleview Partners LLC grew its holdings in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. grew its stake in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. JDM Financial Group LLC increased its holdings in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the period. Retirement Wealth Solutions LLC bought a new position in Broadcom during the 4th quarter worth $37,000. Finally, Tsfg LLC lifted its holdings in Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 204 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $221.27 on Friday. The stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 180.48, a PEG ratio of 2.16 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88. The firm’s 50-day simple moving average is $213.41 and its 200 day simple moving average is $181.93.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the company earned $0.98 earnings per share. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.07%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is currently 192.50%.

Insider Transactions at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction dated 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 position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Evercore ISI raised their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Bank of America upped their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Barclays boosted their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

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.