Broadcom Inc. (NASDAQ:AVGO) Shares Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 367,221 shares of the semiconductor manufacturer's stock after purchasing an additional 50,727 shares during the period. TD Waterhouse Canada Inc.'s holdings in Broadcom were worth $85,114,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Central Pacific Bank Trust Division boosted its holdings in shares of Broadcom by 21.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock valued at $4,858,000 after buying an additional 3,707 shares in the last quarter. Wolff Financial Management LLC acquired a new position in Broadcom in the fourth quarter valued at $244,000. Motive Wealth Advisors grew its holdings in shares of Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock worth $1,066,000 after purchasing an additional 4,209 shares during the last quarter. Tidal Investments LLC increased its position in shares of Broadcom by 969.3% during the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer's stock worth $66,696,000 after purchasing an additional 350,485 shares in the last quarter. Finally, Franchise Capital Ltd purchased a new stake in shares of Broadcom in the 4th quarter valued at about $2,017,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AVGO. Bank of America dropped their price target on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Mizuho cut their target price on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Truist Financial upped their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Benchmark restated a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, William Blair reiterated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

Broadcom Trading Up 6.4 %

Shares of NASDAQ AVGO traded up $11.24 during midday trading on Thursday, reaching $188.15. 27,491,846 shares of the stock were exchanged, compared to its average volume of 31,276,031. The stock has a 50 day moving average price of $185.99 and a 200-day moving average price of $195.85. 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 company has a market capitalization of $884.67 billion, a P/E ratio of 153.47, a P/E/G ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 52-week low of $122.33 and a 52-week high of $251.88.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.25%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

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

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 663,976 shares of Broadcom 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. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 719,776 shares of company stock valued at $131,065,542 in the last quarter. 2.00% of the stock is currently owned by company insiders.

About Broadcom

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.