Vanguard Group Inc. Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Vanguard Group Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 1.4% during the fourth quarter, Holdings Channel reports. The fund owned 475,134,603 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,573,204 shares during the period. Broadcom comprises approximately 1.9% of Vanguard Group Inc.’s investment portfolio, making the stock its 6th biggest position. Vanguard Group Inc. owned approximately 0.10% of Broadcom worth $110,155,206,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AVGO. Pin Oak Investment Advisors Inc. raised its stake in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares during the period. Canton Hathaway LLC bought a new position in shares of Broadcom in the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the fourth quarter worth about $26,000. JDM Financial Group LLC raised its stake in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares during the period. Finally, Bellevue Asset Management LLC bought a new position in shares of Broadcom in the fourth quarter worth about $33,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of Broadcom stock opened at $191.66 on Friday. The stock’s fifty day moving average is $214.38 and its two-hundred day moving average is $195.08. The company has a market capitalization of $901.18 billion, a PE ratio of 156.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Analysts Set New Price Targets

AVGO has been the topic of several recent research reports. Robert W. Baird raised their price objective on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. KeyCorp lifted their target price on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Bank of America lifted their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three equities research 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 an average rating of “Moderate Buy” and an average target price of $231.48.

Insider Buying and Selling at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,168 shares of company stock valued at $40,508,877 in the last quarter. 2.00% of the stock is owned by insiders.

About Broadcom

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.