Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 27.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,897,909 shares of the semiconductor manufacturer’s stock after buying an additional 5,783,988 shares during the period. Broadcom makes up 1.7% of Franklin Resources Inc.’s portfolio, making the stock its 5th biggest position. Franklin Resources Inc. owned approximately 0.57% of Broadcom worth $6,236,011,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. AG raised its holdings in Broadcom by 23.7% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 577,167 shares of the semiconductor manufacturer’s stock worth $134,298,000 after acquiring an additional 110,443 shares in the last quarter. Seven Mile Advisory boosted its holdings in shares of Broadcom by 11.8% during the 4th quarter. Seven Mile Advisory now owns 7,746 shares of the semiconductor manufacturer’s stock worth $1,796,000 after buying an additional 818 shares during the period. Cannell & Spears LLC increased its stake in shares of Broadcom by 36.0% during the fourth quarter. Cannell & Spears LLC now owns 205,541 shares of the semiconductor manufacturer’s stock worth $47,653,000 after purchasing an additional 54,396 shares during the period. Summit Financial LLC lifted its holdings in shares of Broadcom by 4.9% during the fourth quarter. Summit Financial LLC now owns 92,877 shares of the semiconductor manufacturer’s stock worth $21,538,000 after buying an additional 4,299 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Broadcom by 10.6% during the 4th quarter. Alliancebernstein L.P. now owns 25,435,904 shares of the semiconductor manufacturer’s stock worth $5,897,060,000 after purchasing an additional 2,430,793 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Down 1.7 %

Shares of NASDAQ:AVGO opened at $169.12 on Monday. The company has a market cap of $795.19 billion, a PE ratio of 137.95, a price-to-earnings-growth 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 stock has a 50 day moving average of $209.48 and a 200 day moving average of $196.51. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88.

Broadcom Announces Dividend

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 issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Analyst Ratings Changes

Several brokerages recently commented on AVGO. Bank of America increased their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Morgan Stanley boosted 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. Susquehanna upped their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Barclays boosted their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Activity

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 785,976 shares of company stock worth $147,912,102 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

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.