Broadcom Inc. (NASDAQ:AVGO) Stake Decreased by Horan Capital Advisors LLC.

Horan Capital Advisors LLC. cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.9% in the 4th quarter, Holdings Channel reports. The fund owned 6,114 shares of the semiconductor manufacturer’s stock after selling 248 shares during the quarter. Broadcom comprises about 2.5% of Horan Capital Advisors LLC.’s holdings, making the stock its 7th largest position. Horan Capital Advisors LLC.’s holdings in Broadcom were worth $6,824,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. J.W. Cole Advisors Inc. boosted its stake in shares of Broadcom by 28.2% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 2,313 shares of the semiconductor manufacturer’s stock valued at $1,921,000 after purchasing an additional 509 shares in the last quarter. Bangor Savings Bank boosted its position in Broadcom by 8.6% during the third quarter. Bangor Savings Bank now owns 428 shares of the semiconductor manufacturer’s stock valued at $355,000 after buying an additional 34 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in Broadcom by 1.5% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 202,700 shares of the semiconductor manufacturer’s stock valued at $168,359,000 after buying an additional 2,900 shares during the period. Advisor Resource Council grew its stake in shares of Broadcom by 14.9% during the third quarter. Advisor Resource Council now owns 772 shares of the semiconductor manufacturer’s stock valued at $641,000 after buying an additional 100 shares during the last quarter. Finally, Strategic Investment Advisors MI lifted its stake in shares of Broadcom by 85.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 5,818 shares of the semiconductor manufacturer’s stock valued at $4,833,000 after acquiring an additional 2,687 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 3.2 %

NASDAQ AVGO traded up $39.54 during trading hours on Friday, reaching $1,278.11. 2,487,939 shares of the company’s stock traded hands, compared to its average volume of 2,905,354. The firm has a market cap of $592.30 billion, a PE ratio of 47.37, a PEG ratio of 2.53 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The firm has a 50-day simple moving average of $1,309.02 and a 200 day simple moving average of $1,145.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.83 EPS. Sell-side analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 110 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Justine Page sold 110 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last quarter. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on AVGO. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Cantor Fitzgerald upped their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Oppenheimer reissued an “outperform” rating and issued a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, UBS Group raised their target price on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

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.