PGGM Investments Has $38.21 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

PGGM Investments grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 53.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 164,819 shares of the semiconductor manufacturer's stock after purchasing an additional 57,101 shares during the period. PGGM Investments' holdings in Broadcom were worth $38,212,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AVGO. Pin Oak Investment Advisors Inc. raised its holdings in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 135 shares during the period. Canton Hathaway LLC acquired a new stake in Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom in the fourth quarter worth $26,000. JDM Financial Group LLC raised its holdings in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after purchasing an additional 172 shares during the period. Finally, Bellevue Asset Management LLC acquired a new stake in Broadcom in the fourth quarter worth $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVGO. Susquehanna increased their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a report on Friday, December 13th. Barclays raised their price objective on shares of Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Piper Sandler raised their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Bank of America raised their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Finally, Benchmark restated a "buy" rating and set a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $231.48.

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Broadcom Stock Performance

Shares of AVGO traded down $2.87 during midday trading on Thursday, reaching $191.36. The stock had a trading volume of 27,107,047 shares, compared to its average volume of 29,436,050. The firm has a 50 day simple moving average of $218.86 and a 200-day simple moving average of $193.43. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The firm has a market cap of $899.76 billion, a PE ratio of 156.09, a P/E/G 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.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom's revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom's payout ratio is 113.46%.

Insider Buying and Selling

In related news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company's stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of the business's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the sale, the chief financial officer now directly owns 325,443 shares of the company's stock, valued at $74,728,221.66. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. Company 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.