Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,207,120 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,018,294 shares during the quarter. Broadcom makes up about 1.8% of Geode Capital Management LLC’s holdings, making the stock its 8th biggest position. Geode Capital Management LLC owned approximately 2.18% of Broadcom worth $23,647,209,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. KFA Private Wealth Group LLC grew its stake in shares of Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after acquiring an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA boosted its holdings in Broadcom by 2.7% in the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after purchasing an additional 45 shares during the period. Bryant Woods Investment Advisors LLC grew its position in shares of Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after purchasing an additional 45 shares in the last quarter. Marest Capital LLC increased its holdings in shares of Broadcom by 1.0% during the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after purchasing an additional 46 shares during the period. Finally, Defined Wealth Management LLC raised its position in shares of Broadcom by 0.4% in the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after buying 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 related news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value 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 represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 785,976 shares of company stock valued at $147,912,102. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on AVGO. Morgan Stanley raised their price objective on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Evercore ISI boosted their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Mizuho cut their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Jefferies Financial Group raised their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Bank of America upped their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Performance

Shares of Broadcom stock opened at $167.43 on Tuesday. The stock has a market cap of $787.25 billion, a price-to-earnings ratio of 136.57, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company’s fifty day moving average is $208.08 and its 200 day moving average is $196.54.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s payout ratio 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.