Baldwin Investment Management LLC Sells 1,974 Shares of Broadcom Inc. (NASDAQ:AVGO)

Baldwin Investment Management LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,404 shares of the semiconductor manufacturer’s stock after selling 1,974 shares during the period. Broadcom comprises 2.4% of Baldwin Investment Management LLC’s portfolio, making the stock its 2nd biggest position. Baldwin Investment Management LLC’s holdings in Broadcom were worth $18,409,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom in the 4th quarter valued at about $26,000. Sellwood Investment Partners LLC bought a new position in shares of Broadcom in the fourth quarter worth about $32,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom during the fourth quarter worth approximately $33,000. Finally, Synergy Investment Management LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $35,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 719,776 shares of company stock valued at $131,065,542. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Citigroup lowered their price objective on Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Barclays cut their price objective on shares of Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. William Blair reiterated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Morgan Stanley raised their price target on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.48.

Broadcom Stock Up 3.2 %

Broadcom stock opened at $203.64 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 1-year low of $127.51 and a 1-year high of $251.88. The company has a fifty day simple moving average of $182.21 and a 200 day simple moving average of $196.61. The company has a market cap of $957.50 billion, a P/E ratio of 166.10, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom declared that its board has authorized a stock buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.16%. Broadcom’s payout ratio is presently 113.46%.

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.