TD Private Client Wealth LLC Has $13.76 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

TD Private Client Wealth LLC reduced its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,360 shares of the semiconductor manufacturer's stock after selling 7,913 shares during the quarter. TD Private Client Wealth LLC's holdings in Broadcom were worth $13,762,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Swedbank AB lifted its stake in Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares during the period. Howard Capital Management Group LLC lifted its position in shares of Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock worth $524,000 after buying an additional 2,908 shares during the period. Pettinga Financial Advisors LLC boosted its stake in Broadcom by 896.9% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer's stock valued at $502,000 after buying an additional 2,619 shares in the last quarter. Principal Financial Group Inc. grew its position in Broadcom by 1,019.4% in the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock valued at $1,238,966,000 after acquiring an additional 6,540,800 shares during the period. Finally, Cincinnati Financial Corp raised its stake in Broadcom by 569.8% during the third quarter. Cincinnati Financial Corp now owns 1,734,060 shares of the semiconductor manufacturer's stock worth $299,125,000 after acquiring an additional 1,475,160 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 topic of several analyst reports. Hsbc Global Res raised shares of Broadcom to a "hold" rating in a report on Tuesday, December 3rd. 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. Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Truist Financial lifted their price objective on Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Finally, Evercore ISI increased their target price on Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $231.48.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the business's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares of the company's stock, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,168 shares of company stock worth $37,108,677. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 0.2 %

NASDAQ AVGO traded down $0.41 on Monday, reaching $191.25. The company had a trading volume of 33,115,698 shares, compared to its average volume of 28,963,826. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock has a market cap of $899.25 billion, a price-to-earnings ratio of 156.00, a PEG ratio of 2.29 and a beta of 1.01. The stock's 50 day moving average is $213.70 and its 200-day moving average is $195.64.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom's payout ratio is 113.46%.

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.