abrdn plc Has $429.79 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

abrdn plc lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 36.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 385,030 shares of the semiconductor manufacturer’s stock after selling 218,385 shares during the quarter. Broadcom comprises about 0.9% of abrdn plc’s investment portfolio, making the stock its 13th largest position. abrdn plc’s holdings in Broadcom were worth $429,790,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. RMR Wealth Builders lifted its stake in Broadcom by 6.5% in the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after buying an additional 388 shares during the period. Czech National Bank lifted its stake in Broadcom by 46.1% in the third quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock valued at $59,909,000 after buying an additional 22,774 shares during the period. Alpha Omega Wealth Management LLC lifted its stake in Broadcom by 66.6% in the fourth quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock valued at $4,756,000 after buying an additional 1,704 shares during the period. CI Investments Inc. lifted its stake in Broadcom by 89.4% in the third quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock valued at $114,221,000 after buying an additional 64,912 shares during the period. Finally, NatWest Group plc lifted its stake in Broadcom by 8.2% in the fourth quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock valued at $9,263,000 after buying an additional 631 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 110 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Justine Page sold 110 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were 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 directly 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 worth $40,306,667 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st. UBS Group raised their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Susquehanna raised their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Finally, Evercore ISI initiated coverage on Broadcom in a research report on Tuesday. They set an “outperform” rating and a $1,620.00 price target on the stock. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Stock Down 4.3 %

AVGO stock traded down $54.28 during mid-day trading on Friday, reaching $1,204.71. The company had a trading volume of 4,479,658 shares, compared to its average volume of 2,254,590. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock has a 50 day simple moving average of $1,305.11 and a two-hundred day simple moving average of $1,118.75. The company has a market capitalization of $558.29 billion, a price-to-earnings ratio of 44.65, a PEG ratio of 2.57 and a beta of 1.25. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating 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 return on equity of 47.71% and a net margin of 29.93%. The business’s revenue was up 34.2% compared to the same quarter last year. During the same period last year, the company earned $9.83 earnings per share. As a group, equities analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.74%. Broadcom’s dividend payout ratio is 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.