Copeland Capital Management LLC lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 5.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 18,278 shares of the semiconductor manufacturer’s stock after selling 969 shares during the quarter. Copeland Capital Management LLC’s holdings in Broadcom were worth $11,726,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Fiduciary Alliance LLC acquired a new position in shares of Broadcom during the 4th quarter valued at $26,000. Godsey & Gibb Inc. raised its position in Broadcom by 500.0% in the fourth quarter. Godsey & Gibb Inc. now owns 60 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 50 shares during the period. Johnson Midwest Financial LLC lifted its stake in shares of Broadcom by 82.4% during the fourth quarter. Johnson Midwest Financial LLC now owns 62 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 28 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Broadcom in the fourth quarter worth about $39,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Broadcom during the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 88.58% of the company’s stock.
Broadcom Stock Down 2.4 %
NASDAQ:AVGO opened at $822.15 on Monday. The firm has a market capitalization of $339.29 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 1.59 and a beta of 1.08. Broadcom Inc. has a 52 week low of $415.07 and a 52 week high of $921.78. The company has a current ratio of 2.38, a quick ratio of 2.13 and a debt-to-equity ratio of 1.74. The stock has a 50 day moving average of $720.23 and a 200-day moving average of $638.92.
Broadcom Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 22nd will be paid a dividend of $4.60 per share. This represents a $18.40 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Wednesday, June 21st. Broadcom’s payout ratio is 57.63%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $775.00 price target on shares of Broadcom in a report on Wednesday, March 1st. Truist Financial lifted their target price on Broadcom from $700.00 to $890.00 in a research report on Friday, June 2nd. Susquehanna increased their price target on Broadcom from $785.00 to $910.00 in a report on Friday, June 2nd. StockNews.com started coverage on Broadcom in a report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, BMO Capital Markets increased their target price on Broadcom from $750.00 to $890.00 in a research note on Tuesday, May 30th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $799.47.
Insiders Place Their Bets
In other news, insider Charlie B. Kawwas sold 1,645 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $801.33, for a total transaction of $1,318,187.85. Following the completion of the transaction, the insider now directly owns 75,290 shares in the company, valued at $60,332,135.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Broadcom news, insider Charlie B. Kawwas sold 1,645 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $801.33, for a total transaction of $1,318,187.85. Following the transaction, the insider now owns 75,290 shares of the company’s stock, valued at approximately $60,332,135.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 28th. The stock was sold at an average price of $619.72, for a total transaction of $4,338,040.00. Following the completion of the sale, the chief financial officer now directly owns 41,085 shares of the company’s stock, valued at $25,461,196.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,645 shares of company stock worth $10,443,148. Insiders own 2.20% of the company’s stock.
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.
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