Whittier Trust Co. of Nevada Inc. Has $68.99 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Whittier Trust Co. of Nevada Inc. raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 297,571 shares of the semiconductor manufacturer's stock after purchasing an additional 13,936 shares during the period. Broadcom accounts for 1.7% of Whittier Trust Co. of Nevada Inc.'s portfolio, making the stock its 11th largest holding. Whittier Trust Co. of Nevada Inc.'s holdings in Broadcom were worth $68,989,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. RWQ Financial Management Services Inc. increased its stake in shares of Broadcom by 675.6% in the fourth quarter. RWQ Financial Management Services Inc. now owns 80,688 shares of the semiconductor manufacturer's stock worth $18,707,000 after purchasing an additional 70,285 shares during the period. Holderness Investments Co. grew its holdings in Broadcom by 2.9% in the 4th quarter. Holderness Investments Co. now owns 38,543 shares of the semiconductor manufacturer's stock valued at $8,936,000 after buying an additional 1,100 shares during the last quarter. Whittier Trust Co. increased its position in Broadcom by 2.4% in the 4th quarter. Whittier Trust Co. now owns 706,677 shares of the semiconductor manufacturer's stock worth $163,836,000 after buying an additional 16,819 shares during the period. OLD Point Trust & Financial Services N A boosted its position in shares of Broadcom by 142.9% in the fourth quarter. OLD Point Trust & Financial Services N A now owns 170 shares of the semiconductor manufacturer's stock valued at $39,000 after acquiring an additional 100 shares during the period. Finally, BluePointe Capital Management LLC boosted its position in shares of Broadcom by 3.3% in the fourth quarter. BluePointe Capital Management LLC now owns 5,905 shares of the semiconductor manufacturer's stock valued at $1,369,000 after acquiring an additional 189 shares during the period. Institutional investors own 76.43% of the company's stock.

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Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares of the company's stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 20,168 shares of the firm'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 transaction 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. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,168 shares of company stock worth $37,108,677. Corporate insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $0.41 during midday trading on Monday, reaching $191.25. The company's stock had a trading volume of 33,115,698 shares, compared to its average volume of 28,963,745. The business's fifty day simple moving average is $214.38 and its 200-day simple moving average is $195.37. 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. The company has a market capitalization of $899.25 billion, a P/E ratio of 156.00, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom's dividend payout ratio is presently 113.46%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AVGO. Deutsche Bank Aktiengesellschaft upped their target price on shares of Broadcom from $190.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Jefferies Financial Group increased their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, December 13th. JPMorgan Chase & Co. boosted their price target on Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $231.48.

About Broadcom

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.