Asahi Life Asset Management CO. LTD. lessened its holdings in Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,494 shares of the semiconductor manufacturer’s stock after selling 55 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in Broadcom were worth $663,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of AVGO. Boston Trust Walden Corp increased its position in Broadcom by 6.9% during the second quarter. Boston Trust Walden Corp now owns 1,747 shares of the semiconductor manufacturer’s stock valued at $849,000 after acquiring an additional 113 shares during the last quarter. Veracity Capital LLC increased its position in Broadcom by 7.6% during the third quarter. Veracity Capital LLC now owns 537 shares of the semiconductor manufacturer’s stock valued at $239,000 after acquiring an additional 38 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new position in Broadcom during the third quarter valued at $118,000. Asset Dedication LLC increased its position in Broadcom by 10.6% during the second quarter. Asset Dedication LLC now owns 5,517 shares of the semiconductor manufacturer’s stock valued at $2,615,000 after acquiring an additional 531 shares during the last quarter. Finally, Courier Capital LLC increased its position in Broadcom by 7.6% during the second quarter. Courier Capital LLC now owns 707 shares of the semiconductor manufacturer’s stock valued at $343,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 81.28% of the company’s stock.
Insiders Place Their Bets
In other Broadcom news, Director Justine Page sold 170 shares of the business’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $574.86, for a total value of $97,726.20. Following the completion of the transaction, the director now directly owns 2,981 shares in the company, valued at $1,713,657.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by corporate insiders.
Broadcom Stock Down 1.2 %
Broadcom (NASDAQ:AVGO – Get Rating) last announced its earnings results on Thursday, December 8th. The semiconductor manufacturer reported $9.75 EPS for the quarter, topping analysts’ consensus estimates of $9.50 by $0.25. The business had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.90 billion. Broadcom had a net margin of 34.62% and a return on equity of 70.00%. The firm’s revenue was up 20.6% on a year-over-year basis. During the same period in the previous year, the company posted $7.01 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 37.41 earnings per share for the current year.
Broadcom Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Tuesday, December 20th were issued a $4.60 dividend. The ex-dividend date of this dividend was Monday, December 19th. This is an increase from Broadcom’s previous quarterly dividend of $4.10. This represents a $18.40 dividend on an annualized basis and a yield of 3.18%. Broadcom’s payout ratio is currently 69.43%.
Wall Street Analyst Weigh In
AVGO has been the topic of a number of analyst reports. Susquehanna cut their price objective on shares of Broadcom from $680.00 to $650.00 in a research report on Monday, December 5th. Oppenheimer reiterated an “outperform” rating and set a $720.00 price objective on shares of Broadcom in a research report on Monday, December 5th. Piper Sandler cut their price objective on shares of Broadcom from $750.00 to $715.00 and set an “overweight” rating on the stock in a research report on Monday, December 5th. Evercore ISI boosted their target price on shares of Broadcom to $650.00 in a research note on Monday, December 12th. Finally, StockNews.com raised shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 5th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $667.21.
Broadcom Company Profile
Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.
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