Prio Wealth Limited Partnership trimmed its position in shares of Broadcom Inc (NASDAQ:AVGO) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 208,986 shares of the semiconductor manufacturer’s stock after selling 2,124 shares during the period. Broadcom comprises 2.8% of Prio Wealth Limited Partnership’s portfolio, making the stock its 5th largest position. Prio Wealth Limited Partnership owned 0.05% of Broadcom worth $60,158,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Broadcom by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,644,308 shares of the semiconductor manufacturer’s stock worth $418,142,000 after buying an additional 96,233 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Broadcom by 95.7% in the fourth quarter. Global Retirement Partners LLC now owns 317 shares of the semiconductor manufacturer’s stock worth $81,000 after purchasing an additional 155 shares during the period. Park National Corp OH grew its holdings in Broadcom by 993.9% in the first quarter. Park National Corp OH now owns 14,472 shares of the semiconductor manufacturer’s stock worth $4,352,000 after purchasing an additional 13,149 shares during the period. Boltwood Capital Management purchased a new stake in Broadcom in the first quarter worth about $300,000. Finally, Private Trust Co. NA grew its holdings in Broadcom by 16.5% in the first quarter. Private Trust Co. NA now owns 1,538 shares of the semiconductor manufacturer’s stock worth $462,000 after purchasing an additional 218 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:AVGO traded down $3.00 during trading hours on Tuesday, hitting $298.74. 320,554 shares of the company were exchanged, compared to its average volume of 2,381,811. The company has a market cap of $119.79 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.46 and a beta of 0.94. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 1.53. Broadcom Inc has a one year low of $202.77 and a one year high of $323.20. The business’s fifty day moving average is $284.42.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.18 by $0.03. Broadcom had a net margin of 15.92% and a return on equity of 32.81%. The business had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same period last year, the firm earned $4.88 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, research analysts anticipate that Broadcom Inc will post 17.43 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Monday, June 24th were given a dividend of $2.65 per share. This represents a $10.60 annualized dividend and a yield of 3.55%. The ex-dividend date was Friday, June 21st. Broadcom’s dividend payout ratio is presently 56.29%.

In related news, SVP Bryan Ingram sold 11,922 shares of Broadcom stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $278.58, for a total transaction of $3,321,230.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction on Monday, July 15th. The stock was sold at an average price of $292.16, for a total value of $5,843,200.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,388 shares of company stock worth $18,198,482. 3.30% of the stock is owned by insiders.

A number of brokerages have weighed in on AVGO. BMO Capital Markets restated a “hold” rating and issued a $9.50 price objective on shares of Vicon Industries in a report on Friday, June 14th. Jefferies Financial Group set a €110.00 ($127.91) price objective on shares of Airbus and gave the company a “buy” rating in a research note on Friday, June 14th. Citigroup decreased their price objective on shares of Broadcom from $320.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, June 14th. UBS Group decreased their price objective on shares of Broadcom from $325.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Finally, SunTrust Banks decreased their target price on shares of Broadcom to $307.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Seven equities research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $303.68.

About Broadcom

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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