Bristol Gate Capital Partners Inc. Sells 4,055 Shares of Broadcom Inc. (NASDAQ:AVGO)

Bristol Gate Capital Partners Inc. cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 507,003 shares of the semiconductor manufacturer’s stock after selling 4,055 shares during the period. Broadcom makes up approximately 5.7% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its biggest position. Bristol Gate Capital Partners Inc.’s holdings in Broadcom were worth $117,544,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $26,000. JDM Financial Group LLC increased its stake in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Sellwood Investment Partners LLC acquired a new stake in Broadcom during the 4th quarter worth about $32,000. Finally, Bellevue Asset Management LLC purchased a new stake in Broadcom during the fourth quarter valued at about $33,000. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AVGO has been the topic of several analyst reports. Jefferies Financial Group lifted their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft raised their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Mizuho dropped their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Activity

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 697,976 shares of company stock worth $127,336,102. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 5.0 %

Broadcom stock opened at $146.29 on Monday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a market cap of $687.85 billion, a price-to-earnings ratio of 119.32, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average price of $201.57 and a two-hundred day moving average price of $196.43.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is 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.