Voya Investment Management LLC Has $2.56 Billion Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Voya Investment Management LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,032,868 shares of the semiconductor manufacturer's stock after buying an additional 481,498 shares during the period. Broadcom makes up approximately 2.7% of Voya Investment Management LLC's holdings, making the stock its 5th largest holding. Voya Investment Management LLC owned approximately 0.24% of Broadcom worth $2,557,339,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Canton Hathaway LLC bought a new position in Broadcom in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom in the fourth quarter valued at approximately $26,000. Sellwood Investment Partners LLC purchased a new position in shares of Broadcom during the fourth quarter worth $32,000. Bellevue Asset Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at about $33,000. Finally, Synergy Investment Management LLC acquired a new position in Broadcom in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on AVGO shares. Citigroup decreased 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, April 11th. Mizuho cut their price objective on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Barclays lowered their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a report on Tuesday. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $250.00 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $229.48.

Insider Activity at Broadcom

In other news, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the transaction, the director now owns 25,380 shares in the company, valued at $4,695,300. The trade was a 3.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 719,776 shares of company stock valued at $131,065,542 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Up 4.3 %

NASDAQ:AVGO opened at $176.88 on Thursday. Broadcom Inc. has a twelve month low of $122.33 and a twelve month high of $251.88. The stock's 50 day moving average price is $185.99 and its two-hundred day moving average price is $195.85. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $831.69 billion, a price-to-earnings ratio of 144.28, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. 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 dividend payout ratio (DPR) is presently 113.46%.

Broadcom declared that its board has approved a share repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are 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.

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