Creekmur Asset Management LLC Sells 3,916 Shares of Broadcom Inc. (NASDAQ:AVGO)

Creekmur Asset Management LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 35.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,176 shares of the semiconductor manufacturer’s stock after selling 3,916 shares during the quarter. Creekmur Asset Management LLC’s holdings in Broadcom were worth $1,664,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the 4th quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom during the fourth quarter worth $26,000. JDM Financial Group LLC lifted its stake in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares in the last quarter. Sellwood Investment Partners LLC purchased a new position in Broadcom during the 4th quarter worth $32,000. Finally, Bellevue Asset Management LLC bought a new position in shares of Broadcom during the fourth quarter valued at about $33,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now 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. Insiders have sold 785,976 shares of company stock valued at $147,912,102 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

AVGO opened at $168.52 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock’s 50 day moving average price is $206.64 and its 200-day moving average price is $196.54. The stock has a market capitalization of $792.37 billion, a PE ratio of 137.46, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.40%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AVGO shares. Robert W. Baird lifted their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Susquehanna increased their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Evercore ISI increased their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Morgan Stanley lifted their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $231.48.

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.