Whittier Trust Co. Acquires 16,819 Shares of Broadcom Inc. (NASDAQ:AVGO)

Whittier Trust Co. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 706,677 shares of the semiconductor manufacturer's stock after buying an additional 16,819 shares during the quarter. Broadcom accounts for 2.2% of Whittier Trust Co.'s investment portfolio, making the stock its 8th largest position. Whittier Trust Co.'s holdings in Broadcom were worth $163,836,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AVGO. Swedbank AB increased its position in shares of Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares during the last quarter. Howard Capital Management Group LLC boosted its stake in 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 purchasing an additional 2,908 shares during the period. Pettinga Financial Advisors LLC boosted its stake in Broadcom by 896.9% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer's stock worth $502,000 after purchasing an additional 2,619 shares during the period. Principal Financial Group Inc. boosted its stake in Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock worth $1,238,966,000 after purchasing an additional 6,540,800 shares during the period. Finally, Mill Creek Capital Advisors LLC boosted its stake in Broadcom by 663.8% during the 3rd quarter. Mill Creek Capital Advisors LLC now owns 6,080 shares of the semiconductor manufacturer's stock worth $1,049,000 after purchasing an additional 5,284 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

AVGO has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price 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. Mizuho dropped their target price on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Citigroup raised their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. William Blair reiterated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $231.48.

Broadcom Trading Up 0.6 %

NASDAQ:AVGO traded up $1.12 on Friday, hitting $191.66. 43,027,271 shares of the stock were exchanged, compared to its average volume of 28,946,893. The stock has a market capitalization of $901.18 billion, a price-to-earnings ratio of 156.33, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52 week low of $119.76 and a 52 week 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 company's 50-day moving average price is $214.38 and its 200 day moving average price is $195.37.

Broadcom Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. Broadcom's payout ratio is 113.46%.

Insider Buying and Selling

In other news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares of the company's stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of 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. In the last three months, insiders sold 172,168 shares of company stock valued at $40,508,877. 2.00% of the stock is owned by corporate 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.