Tocqueville Asset Management L.P. Buys 3,592 Shares of Broadcom Inc. (NASDAQ:AVGO)

Tocqueville Asset Management L.P. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 2.4% in the fourth quarter, HoldingsChannel reports. The fund owned 152,366 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,592 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Broadcom were worth $35,325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AVGO. William Blair Investment Management LLC boosted its stake in Broadcom by 202.9% during the 4th quarter. William Blair Investment Management LLC now owns 647,615 shares of the semiconductor manufacturer’s stock valued at $150,143,000 after purchasing an additional 433,787 shares during the last quarter. Arrien Investments Inc. purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $231,000. Cassady Schiller Wealth Management LLC grew its holdings in Broadcom by 25.3% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 1,165 shares of the semiconductor manufacturer’s stock worth $270,000 after buying an additional 235 shares in the last quarter. Signaturefd LLC raised its position in Broadcom by 1.4% in the 4th quarter. Signaturefd LLC now owns 80,111 shares of the semiconductor manufacturer’s stock valued at $18,573,000 after buying an additional 1,134 shares during the last quarter. Finally, SlateStone Wealth LLC lifted its stake in Broadcom by 0.3% during the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock valued at $3,207,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 184,738 shares of company stock valued at $43,395,200 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Broadcom stock opened at $194.50 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The firm has a market capitalization of $914.53 billion, a P/E ratio of 158.65, a PEG ratio of 2.29 and a beta of 1.01. The business has a fifty day moving average price of $217.28 and a 200-day moving average price of $194.43.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is presently 113.46%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AVGO shares. Morgan Stanley upped their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Citigroup boosted their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, KeyCorp boosted their price objective on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

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.