Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by von Borstel & Associates Inc.

von Borstel & Associates Inc. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.6% in the fourth quarter, Holdings Channel reports. The firm owned 1,320 shares of the semiconductor manufacturer’s stock after buying an additional 70 shares during the quarter. von Borstel & Associates Inc.’s holdings in Broadcom were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Swedbank AB lifted its position in Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the period. Howard Capital Management Group LLC lifted its position in Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after purchasing an additional 2,908 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after buying an additional 6,540,800 shares during the period. Quest Partners LLC boosted its stake in shares of Broadcom by 3,295.8% in the third quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer’s stock valued at $141,000 after buying an additional 791 shares in the last quarter. Finally, OneAscent Wealth Management LLC grew its holdings in Broadcom by 899.0% during the third quarter. OneAscent Wealth Management LLC now owns 4,066 shares of the semiconductor manufacturer’s stock worth $701,000 after acquiring an additional 3,659 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 842,836 shares in the company, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated 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 owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,168 shares of company stock worth $40,508,877 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on AVGO. William Blair reissued an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Mizuho lowered their target price on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Susquehanna lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Robert W. Baird upped their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Barclays increased their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Price Performance

Broadcom stock opened at $191.66 on Friday. The firm has a fifty day moving average of $214.38 and a 200-day moving average of $194.79. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $901.18 billion, a P/E ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The business 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%.

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.