Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lessened by Johnson Financial Group Inc.

Johnson Financial Group Inc. lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 35,330 shares of the semiconductor manufacturer’s stock after selling 1,183 shares during the period. Johnson Financial Group Inc.’s holdings in Broadcom were worth $7,817,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Broadcom by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock valued at $110,155,206,000 after buying an additional 6,573,204 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Broadcom by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock valued at $23,647,209,000 after acquiring an additional 3,018,294 shares in the last quarter. FMR LLC boosted its stake in Broadcom by 3.2% in the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer’s stock worth $21,624,718,000 after purchasing an additional 2,873,809 shares during the period. Norges Bank purchased a new position in Broadcom during the 4th quarter worth approximately $16,893,010,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer’s stock valued at $11,018,089,000 after purchasing an additional 15,171,849 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Bank of America lowered their price objective on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Truist Financial increased their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, Citigroup reduced their price objective on Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $229.48.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of Broadcom stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the sale, the director now owns 25,380 shares in the company, valued at $4,695,300. The trade was a 3.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the transaction, the insider now owns 465,956 shares of the company’s stock, valued at approximately $83,872,080. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 719,776 shares of company stock worth $131,065,542. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $192.31 on Friday. Broadcom Inc. has a 12-month low of $122.33 and a 12-month high of $251.88. The firm has a market capitalization of $904.23 billion, a P/E ratio of 156.86, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The stock’s 50 day moving average price is $184.36 and its two-hundred day moving average price is $196.02. 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 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 paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.23%. The ex-dividend date was Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Broadcom declared that its Board of Directors has initiated a stock repurchase plan on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Broadcom 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.