Treasurer of the State of North Carolina Has $503.42 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Treasurer of the State of North Carolina boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,171,415 shares of the semiconductor manufacturer's stock after buying an additional 17,245 shares during the period. Broadcom comprises 2.0% of Treasurer of the State of North Carolina's portfolio, making the stock its 8th largest holding. Treasurer of the State of North Carolina's holdings in Broadcom were worth $503,421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after acquiring an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Broadcom by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after buying an additional 3,018,294 shares in the last quarter. FMR LLC raised its holdings in shares of Broadcom by 3.2% in the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock valued at $21,624,718,000 after buying an additional 2,873,809 shares during the last quarter. Norges Bank bought a new stake in Broadcom during the 4th quarter worth about $16,893,010,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Broadcom by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 32,808,362 shares of the semiconductor manufacturer's stock worth $7,606,291,000 after acquiring an additional 810,907 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AVGO shares. Morgan Stanley upped their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Barclays lifted their target price on Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Mizuho decreased their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. KeyCorp raised their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Citigroup cut their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Friday. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $231.68.

Insider Activity at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The stock was 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. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

NASDAQ:AVGO traded down $3.92 during mid-day trading on Monday, reaching $178.02. 13,583,837 shares of the company's stock were exchanged, compared to its average volume of 31,295,364. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. 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 business's fifty day simple moving average is $195.52 and its two-hundred day simple moving average is $196.11. The firm has a market capitalization of $837.04 billion, a PE ratio of 145.21, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's payout ratio is currently 113.46%.

Broadcom announced that its board has authorized a stock buyback plan on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

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.