Arrowstreet Capital Limited Partnership Purchases 358,170 Shares of Broadcom Inc. (NASDAQ:AVGO)

Arrowstreet Capital Limited Partnership increased its position in Broadcom Inc. (NASDAQ:AVGO) by 166.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 572,906 shares of the semiconductor manufacturer’s stock after purchasing an additional 358,170 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Broadcom were worth $132,823,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Canton Hathaway LLC bought a new position in shares of Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in Broadcom during the fourth quarter worth $26,000. JDM Financial Group LLC increased its holdings 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 valued at $32,000 after purchasing an additional 172 shares during the last quarter. Sellwood Investment Partners LLC bought a new position in shares of Broadcom in the fourth quarter valued at about $32,000. Finally, Bellevue Asset Management LLC acquired a new stake in shares of Broadcom during the 4th quarter worth about $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of AVGO stock opened at $169.12 on Monday. The business’s 50-day moving average price is $209.48 and its 200-day moving average price is $196.51. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. 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 firm has a market capitalization of $795.19 billion, a price-to-earnings ratio of 137.95, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The firm also recently declared 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 1.40%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Insider Activity

In other news, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % 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 Henry Samueli sold 663,976 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 785,976 shares of company stock valued at $147,912,102. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AVGO shares. Evercore ISI increased their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Susquehanna increased their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $231.48.

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.