Oarsman Capital Inc. Sells 1,585 Shares of Broadcom Inc. (NASDAQ:AVGO)

Oarsman Capital Inc. lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,883 shares of the semiconductor manufacturer’s stock after selling 1,585 shares during the period. Broadcom comprises 1.1% of Oarsman Capital Inc.’s holdings, making the stock its 21st largest position. Oarsman Capital Inc.’s holdings in Broadcom were worth $6,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of AVGO. Resona Asset Management Co. Ltd. bought a new position in shares of Broadcom during the fourth quarter worth about $306,526,000. Pioneer Trust Bank N A OR boosted its position in Broadcom by 21.6% during the 4th quarter. Pioneer Trust Bank N A OR now owns 1,982 shares of the semiconductor manufacturer’s stock worth $460,000 after acquiring an additional 352 shares during the last quarter. First Western Trust Bank grew its stake in shares of Broadcom by 2.0% during the 4th quarter. First Western Trust Bank now owns 3,290 shares of the semiconductor manufacturer’s stock worth $763,000 after acquiring an additional 63 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $727,000. Finally, PAX Financial Group LLC boosted its holdings in Broadcom by 111.9% during the fourth quarter. PAX Financial Group LLC now owns 10,847 shares of the semiconductor manufacturer’s stock worth $2,515,000 after purchasing an additional 5,727 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the 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 sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 745,976 shares of company stock valued at $138,632,902. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 5.0 %

Shares of Broadcom stock opened at $146.29 on Friday. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The stock has a market cap of $687.85 billion, a PE ratio of 119.32, a PEG ratio of 2.29 and a beta of 1.05. The firm has a 50-day moving average of $201.57 and a 200-day moving average of $195.95. 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 announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given 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 1.61%. Broadcom’s payout ratio is presently 113.46%.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent research reports. Mizuho lowered their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. lifted their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Citigroup increased their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Evercore ISI boosted their price target on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Barclays increased their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

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.