First Heartland Consultants Inc. trimmed its stake in Broadcom Limited (NASDAQ:AVGO) by 11.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,383 shares of the semiconductor manufacturer’s stock after selling 438 shares during the quarter. First Heartland Consultants Inc.’s holdings in Broadcom were worth $820,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. National Planning Corp purchased a new stake in shares of Broadcom during the 2nd quarter valued at approximately $370,000. Sigma Planning Corp lifted its stake in shares of Broadcom by 25.6% during the 2nd quarter. Sigma Planning Corp now owns 1,450 shares of the semiconductor manufacturer’s stock valued at $338,000 after buying an additional 296 shares in the last quarter. Rational Advisors LLC purchased a new stake in shares of Broadcom during the 2nd quarter valued at approximately $431,000. Conning Inc. lifted its stake in shares of Broadcom by 1.1% during the 2nd quarter. Conning Inc. now owns 8,771 shares of the semiconductor manufacturer’s stock valued at $2,044,000 after buying an additional 92 shares in the last quarter. Finally, Dupont Capital Management Corp lifted its stake in shares of Broadcom by 612.2% during the 2nd quarter. Dupont Capital Management Corp now owns 19,806 shares of the semiconductor manufacturer’s stock valued at $4,616,000 after buying an additional 17,025 shares in the last quarter. Hedge funds and other institutional investors own 88.98% of the company’s stock.
Broadcom Limited (AVGO) opened at $259.95 on Tuesday. The company has a market cap of $106,037.93, a price-to-earnings ratio of 18.05, a PEG ratio of 1.18 and a beta of 1.05. Broadcom Limited has a twelve month low of $173.31 and a twelve month high of $285.68. The company has a quick ratio of 5.80, a current ratio of 6.39 and a debt-to-equity ratio of 0.75.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Tuesday, December 19th will be issued a $1.75 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, December 18th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.69%. Broadcom’s dividend payout ratio is presently 95.77%.
In other news, SVP Bryan Ingram sold 30,000 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $244.01, for a total value of $7,320,300.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $260.03, for a total transaction of $5,200,600.00. The disclosure for this sale can be found here. Insiders sold a total of 103,389 shares of company stock worth $25,712,376 in the last three months. Insiders own 3.60% of the company’s stock.
A number of analysts recently commented on the stock. B. Riley restated a “buy” rating and set a $305.00 price target on shares of Broadcom in a research note on Saturday, August 26th. Craig Hallum restated a “buy” rating on shares of Broadcom in a research note on Wednesday, September 13th. Robert W. Baird restated an “outperform” rating and set a $290.00 price target (up from $260.00) on shares of Broadcom in a research note on Friday, August 25th. J P Morgan Chase & Co restated a “buy” rating and set a $315.00 price target on shares of Broadcom in a research note on Tuesday, September 12th. Finally, Jefferies Group set a $286.00 price target on shares of Broadcom and gave the company a “buy” rating in a research note on Wednesday, October 18th. Five equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the stock. Broadcom presently has an average rating of “Buy” and a consensus price target of $303.13.
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Broadcom Company Profile
Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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