Broadcom Inc. (NASDAQ:AVGO) is Nomura Asset Management Co. Ltd.’s 4th Largest Position

Nomura Asset Management Co. Ltd. cut its position in Broadcom Inc. (NASDAQ:AVGO) by 8.1% during the fourth quarter, HoldingsChannel reports. The firm owned 5,131,284 shares of the semiconductor manufacturer’s stock after selling 451,897 shares during the quarter. Broadcom accounts for 3.6% of Nomura Asset Management Co. Ltd.’s holdings, making the stock its 4th biggest position. Nomura Asset Management Co. Ltd.’s holdings in Broadcom were worth $1,189,637,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Broadway Wealth Solutions Inc. acquired a new stake in Broadcom in the fourth quarter valued at $813,000. New Age Alpha Advisors LLC raised its position in shares of Broadcom by 156.9% during the 4th quarter. New Age Alpha Advisors LLC now owns 105,509 shares of the semiconductor manufacturer’s stock worth $24,461,000 after acquiring an additional 64,439 shares in the last quarter. Providence Capital Advisors LLC lifted its stake in Broadcom by 5.6% during the fourth quarter. Providence Capital Advisors LLC now owns 1,404 shares of the semiconductor manufacturer’s stock worth $326,000 after purchasing an additional 74 shares during the last quarter. Norges Bank acquired a new position in Broadcom in the fourth quarter valued at approximately $16,893,010,000. Finally, Caisse Des Depots ET Consignations purchased a new position in Broadcom in the fourth quarter valued at approximately $27,030,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $171.99 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company’s 50-day moving average price is $210.84 and its 200 day moving average price is $195.72. 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 $808.69 billion, a price-to-earnings ratio of 140.29, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.37%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AVGO shares. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Susquehanna raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Citigroup increased their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Barclays upped their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,000 shares of company stock worth $27,334,060 in the last ninety days. Insiders own 2.00% of the company’s stock.

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.