Rathbones Group PLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 44.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 966,391 shares of the semiconductor manufacturer’s stock after buying an additional 298,993 shares during the quarter. Broadcom accounts for 1.3% of Rathbones Group PLC’s portfolio, making the stock its 18th biggest holding. Rathbones Group PLC’s holdings in Broadcom were worth $334,468,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Miller Global Investments LLC bought a new position in shares of Broadcom during the fourth quarter worth approximately $31,000. Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom during the fourth quarter worth approximately $33,000. Family CFO Inc bought a new position in shares of Broadcom during the fourth quarter worth approximately $35,000. PayPay Securities Corp increased its stake in shares of Broadcom by 88.9% during the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 56 shares during the period. Finally, Camelot Portfolios LLC bought a new position in shares of Broadcom during the fourth quarter worth approximately $45,000. Institutional investors own 76.43% of the company’s stock.
Broadcom Stock Performance
Shares of NASDAQ:AVGO opened at $414.14 on Tuesday. The company has a market capitalization of $1.96 trillion, a P/E ratio of 80.89, a P/E/G ratio of 0.86 and a beta of 1.43. Broadcom Inc. has a 1 year low of $226.18 and a 1 year high of $442.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The business’s 50 day simple moving average is $374.86 and its 200 day simple moving average is $356.49.
Broadcom Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom’s dividend payout ratio (DPR) is currently 50.78%.
Insider Transactions at Broadcom
In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the sale, the insider owned 787,184 shares of the company’s stock, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider S. Ram Velaga sold 8,000 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the sale, the insider directly owned 57,932 shares in the company, valued at approximately $21,464,964.64. This represents a 12.13% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on AVGO shares. Benchmark reiterated a “buy” rating and set a $485.00 target price on shares of Broadcom in a research note on Thursday, March 5th. Zacks Research lowered Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Erste Group Bank lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Wells Fargo & Company reissued an “overweight” rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Finally, Evercore reissued an “outperform” rating and set a $582.00 price target on shares of Broadcom in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $448.10.
View Our Latest Analysis on Broadcom
Broadcom Company Profile
Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.
On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.
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