Crescent Park Management L.P. Sells 44,460 Shares of Broadcom Inc. (NASDAQ:AVGO)

Crescent Park Management L.P. trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 17.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 209,073 shares of the semiconductor manufacturer’s stock after selling 44,460 shares during the quarter. Broadcom comprises 18.6% of Crescent Park Management L.P.’s portfolio, making the stock its largest position. Crescent Park Management L.P.’s holdings in Broadcom were worth $48,471,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Huntington National Bank increased its position in Broadcom by 2.7% during the 4th quarter. Huntington National Bank now owns 1,084,742 shares of the semiconductor manufacturer’s stock worth $251,487,000 after purchasing an additional 28,223 shares in the last quarter. Private Portfolio Partners LLC increased its position in shares of Broadcom by 8.1% in the fourth quarter. Private Portfolio Partners LLC now owns 5,864 shares of the semiconductor manufacturer’s stock worth $1,359,000 after acquiring an additional 437 shares in the last quarter. Kesler Norman & Wride LLC raised its stake in shares of Broadcom by 1.1% in the 4th quarter. Kesler Norman & Wride LLC now owns 34,203 shares of the semiconductor manufacturer’s stock valued at $7,930,000 after acquiring an additional 358 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Broadcom by 170.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,525,614 shares of the semiconductor manufacturer’s stock worth $585,538,000 after purchasing an additional 1,590,203 shares during the period. Finally, RFG Bristol Wealth Advisors LLC acquired a new stake in Broadcom in the 4th quarter valued at $4,956,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In related news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated 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 sale, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the 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 completion of the transaction, the director now owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 785,976 shares of company stock valued at $147,912,102. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several analyst reports. Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Morgan Stanley upped their price target on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. KeyCorp lifted their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Up 0.7 %

Broadcom stock opened at $168.52 on Wednesday. The firm has a market capitalization of $792.37 billion, a P/E ratio of 137.46, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a 50-day simple moving average of $206.64 and a 200-day simple moving average of $196.54. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.40%. Broadcom’s dividend payout ratio (DPR) 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.