Bahl & Gaynor Inc. Has $737.17 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Bahl & Gaynor Inc. reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 660,395 shares of the semiconductor manufacturer’s stock after selling 45,582 shares during the period. Broadcom accounts for approximately 4.4% of Bahl & Gaynor Inc.’s holdings, making the stock its biggest position. Bahl & Gaynor Inc. owned about 0.14% of Broadcom worth $737,166,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. BetterWealth LLC boosted its position in Broadcom by 1.5% during the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock worth $672,000 after purchasing an additional 9 shares during the period. Rise Advisors LLC boosted its position in Broadcom by 33.3% during the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 10 shares during the period. CX Institutional boosted its position in Broadcom by 0.8% during the fourth quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock worth $1,439,000 after purchasing an additional 10 shares during the period. Cascade Investment Group Inc. boosted its position in Broadcom by 1.7% during the fourth quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock worth $680,000 after purchasing an additional 10 shares during the period. Finally, Sabal Trust CO boosted its position in shares of Broadcom by 1.6% in the fourth quarter. Sabal Trust CO now owns 640 shares of the semiconductor manufacturer’s stock valued at $714,000 after acquiring an additional 10 shares during the period. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AVGO. Susquehanna boosted their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Benchmark reissued a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research report on Thursday, March 21st. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Activity

In other news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’s 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 value of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 over the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Stock Up 3.8 %

Shares of NASDAQ AVGO opened at $1,344.07 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The company has a market cap of $622.87 billion, a price-to-earnings ratio of 49.82, a PEG ratio of 2.63 and a beta of 1.25. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The stock has a 50-day moving average price of $1,306.70 and a two-hundred day moving average price of $1,134.07.

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, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the prior year, the firm posted $9.83 earnings per share. The firm’s revenue was up 34.2% compared to the same quarter last year. As a group, analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

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.