Swiss National Bank Has $2.91 Billion Holdings in Broadcom Inc. (NASDAQ:AVGO)

Swiss National Bank reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,534,530 shares of the semiconductor manufacturer's stock after selling 591,400 shares during the period. Broadcom accounts for approximately 1.9% of Swiss National Bank's holdings, making the stock its 8th largest holding. Swiss National Bank owned about 0.27% of Broadcom worth $2,906,005,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Canton Hathaway LLC acquired a new stake in Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the fourth quarter valued at about $26,000. Bellevue Asset Management LLC bought a new position in shares of Broadcom during the 4th quarter worth approximately $33,000. Pin Oak Investment Advisors Inc. increased its stake in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 135 shares during the last quarter. Finally, Synergy Investment Management LLC bought a new position in shares of Broadcom in the 4th quarter valued at about $35,000. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AVGO. Robert W. Baird boosted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Morgan Stanley lifted their target price on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Mizuho lowered their price target on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Finally, KeyCorp increased their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. 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, Broadcom has an average rating of "Moderate Buy" and an average target price of $231.48.

Remove Ads

Broadcom Stock Performance

Shares of Broadcom stock opened at $194.23 on Thursday. The company's 50 day moving average price is $219.67 and its two-hundred day moving average price is $193.45. The firm has a market capitalization of $913.26 billion, a P/E ratio of 158.43, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom's revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 1.22%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is currently 113.46%.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the company's stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last quarter. 2.00% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.