Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 9.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,356 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,090 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.’s holdings in Broadcom were worth $8,661,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AVGO. Canton Hathaway LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter worth approximately $26,000. Sellwood Investment Partners LLC purchased a new position in Broadcom in the fourth quarter valued at approximately $32,000. Bellevue Asset Management LLC acquired a new position in Broadcom during the fourth quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom during the fourth quarter worth approximately $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 800 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 25,380 shares in the company, valued at $4,695,300. This trade represents a 3.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the director now owns 38,798,721 shares in the company, valued at approximately $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. In the last three months, insiders have sold 720,576 shares of company stock worth $131,249,694. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.9%

NASDAQ AVGO opened at $230.63 on Tuesday. 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 52 week low of $128.50 and a 52 week high of $251.88. The business has a 50 day moving average price of $187.81 and a 200-day moving average price of $200.05. The company has a market cap of $1.08 trillion, a price-to-earnings ratio of 188.12, a P/E/G ratio of 2.29 and a beta of 1.04.

Broadcom announced that its board has initiated a stock buyback program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Truist Financial raised their target price on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. KeyCorp boosted their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report 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 for the company in a research report on Wednesday, April 16th. Finally, Seaport Res Ptn raised shares of Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $229.48.

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.