Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,568,975 shares of the semiconductor manufacturer's stock after buying an additional 64,201 shares during the quarter. Broadcom comprises about 1.5% of Prudential Financial Inc.'s holdings, making the stock its 11th largest position. Prudential Financial Inc. owned approximately 0.10% of Broadcom worth $1,059,271,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division increased its holdings in shares of Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock valued at $4,858,000 after purchasing an additional 3,707 shares during the period. Wolff Financial Management LLC acquired a new position in Broadcom in the 4th quarter valued at $244,000. Strait & Sound Wealth Management LLC raised its position in Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock worth $1,371,000 after buying an additional 7,095 shares during the last quarter. Motive Wealth Advisors lifted its stake in shares of Broadcom by 1,076.5% in the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock worth $1,066,000 after acquiring an additional 4,209 shares during the period. Finally, Tidal Investments LLC boosted its holdings in shares of Broadcom by 969.3% in the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer's stock valued at $66,696,000 after acquiring an additional 350,485 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

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Analysts Set New Price Targets

AVGO has been the subject of several analyst reports. Benchmark reissued a "buy" rating and set a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Piper Sandler increased their target price on Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Bank of America lifted their price target on Broadcom from $215.00 to $250.00 and gave the company a "buy" rating in a research note on Friday, December 13th. TD Cowen increased their price objective on Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Finally, Robert W. Baird boosted their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $231.48.

Insider Activity at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares of the company's stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,000 shares of company stock worth $21,494,560. 2.00% of the stock is owned by company insiders.

Broadcom Trading Down 1.6 %

NASDAQ AVGO traded down $2.99 during trading hours on Tuesday, hitting $188.26. 23,352,547 shares of the company's stock were exchanged, compared to its average volume of 28,950,584. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market capitalization of $885.19 billion, a P/E ratio of 153.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The business's 50 day moving average is $213.70 and its 200-day moving average is $195.64. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88.

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 given a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. Broadcom's dividend payout ratio is presently 113.46%.

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.