Whittier Trust Co. Buys 16,819 Shares of Broadcom Inc. (NASDAQ:AVGO)

Whittier Trust Co. raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 706,677 shares of the semiconductor manufacturer’s stock after buying an additional 16,819 shares during the quarter. Broadcom comprises approximately 2.2% of Whittier Trust Co.’s investment portfolio, making the stock its 8th biggest holding. Whittier Trust Co.’s holdings in Broadcom were worth $163,836,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $26,000. Bellevue Asset Management LLC bought a new stake in shares of Broadcom in the fourth quarter valued at about $33,000. Pin Oak Investment Advisors Inc. increased its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares during the period. Finally, Synergy Investment Management LLC acquired a new stake in Broadcom in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVGO. Deutsche Bank Aktiengesellschaft increased their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Benchmark reissued a “buy” rating and set a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. Morgan Stanley lifted their price objective on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. KeyCorp increased their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Finally, Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Buying and Selling

In other news, CFO Kirsten M. Spears sold 12,570 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the transaction, the chief financial officer now directly owns 325,443 shares in the company, valued at $74,728,221.66. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,738 shares of company stock valued at $43,395,200 over the last 90 days. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $195.57 on Thursday. The firm has a market capitalization of $919.56 billion, a price-to-earnings ratio of 159.52, a PEG ratio of 2.29 and a beta of 1.01. 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 business’s 50-day moving average price is $215.81 and its 200-day moving average price is $194.61. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. 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.