Alterity Financial Group LLC Trims Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Alterity Financial Group LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,169 shares of the semiconductor manufacturer’s stock after selling 20 shares during the period. Broadcom makes up approximately 5.1% of Alterity Financial Group LLC’s holdings, making the stock its 4th biggest holding. Alterity Financial Group LLC’s holdings in Broadcom were worth $3,537,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. BlackRock Inc. lifted its stake in shares of Broadcom by 6.2% in the 2nd quarter. BlackRock Inc. now owns 31,681,688 shares of the semiconductor manufacturer’s stock valued at $27,481,646,000 after purchasing an additional 1,836,795 shares during the last quarter. State Street Corp grew its holdings in shares of Broadcom by 1.9% in the second quarter. State Street Corp now owns 16,941,449 shares of the semiconductor manufacturer’s stock worth $14,695,521,000 after purchasing an additional 309,326 shares during the last quarter. Morgan Stanley grew its stake in Broadcom by 12.5% in the 4th quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock worth $3,287,056,000 after acquiring an additional 651,014 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Broadcom by 11.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock worth $2,948,563,000 after purchasing an additional 488,405 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Broadcom by 2.1% during the third quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after buying an additional 93,615 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

AVGO stock opened at $1,325.41 on Friday. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The firm has a market capitalization of $614.22 billion, a PE ratio of 49.13, a price-to-earnings-growth ratio of 2.78 and a beta of 1.26. The business has a 50 day simple moving average of $1,271.85 and a 200-day simple moving average of $1,063.26. 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 (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue was up 34.2% compared to the same quarter last year. During the same period last year, the business earned $9.83 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be given a $5.25 dividend. The ex-dividend date is Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.58%. Broadcom’s dividend payout ratio is currently 77.84%.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent research reports. Barclays started coverage on shares of Broadcom in a research note on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 price objective for the company. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. 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. Finally, Mizuho boosted their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,230.18.

Insider Activity

In related news, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the sale, the chief financial officer now directly owns 26,880 shares in the company, valued at approximately $28,039,603.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at approximately $28,039,603.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold a total of 19,810 shares of company stock valued at $26,107,692 in the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Company 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.