Broadcom Inc. (NASDAQ:AVGO) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,892,675 shares of the semiconductor manufacturer’s stock after selling 304,914 shares during the period. Broadcom comprises about 1.6% of TD Asset Management Inc.’s portfolio, making the stock its 9th biggest position. TD Asset Management Inc. owned 0.17% of Broadcom worth $1,829,838,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC acquired a new stake in shares of Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom in the fourth quarter valued at approximately $26,000. Bellevue Asset Management LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $33,000. Pin Oak Investment Advisors Inc. lifted its position in shares of Broadcom by 900.0% during the 3rd 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 last quarter. Finally, Synergy Investment Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom 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. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,000 shares of company stock valued at $21,494,560. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $191.25 on Tuesday. The firm’s fifty day simple moving average is $213.70 and its 200-day simple moving average is $195.64. 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 stock has a market cap of $899.25 billion, a PE ratio of 156.00, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

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 given a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.23%. Broadcom’s payout ratio is currently 113.46%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research analyst reports. Evercore ISI upped their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Citigroup lifted their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Barclays increased their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. KeyCorp lifted their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Truist Financial increased their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.