National Pension Service Has $796.15 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

National Pension Service boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 713,232 shares of the semiconductor manufacturer’s stock after buying an additional 58,173 shares during the quarter. Broadcom makes up approximately 1.1% of National Pension Service’s investment portfolio, making the stock its 11th largest position. National Pension Service owned approximately 0.15% of Broadcom worth $796,145,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Arlington Capital Management Inc. bought a new stake in Broadcom during the fourth quarter worth about $1,302,000. Bogart Wealth LLC grew its position in Broadcom by 9.2% in the 4th quarter. Bogart Wealth LLC now owns 298 shares of the semiconductor manufacturer’s stock valued at $333,000 after purchasing an additional 25 shares during the period. RMR Wealth Builders raised its position in Broadcom by 3.0% in the 4th quarter. RMR Wealth Builders now owns 6,550 shares of the semiconductor manufacturer’s stock valued at $7,311,000 after buying an additional 188 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in Broadcom by 3.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 35,767 shares of the semiconductor manufacturer’s stock valued at $39,925,000 after buying an additional 1,062 shares during the last quarter. Finally, Evexia Wealth LLC grew its stake in Broadcom by 0.8% in the 4th quarter. Evexia Wealth LLC now owns 6,024 shares of the semiconductor manufacturer’s stock valued at $7,376,000 after purchasing an additional 46 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent research reports. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Mizuho upped their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Cantor Fitzgerald increased their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Benchmark reaffirmed a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a report on Monday, April 8th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Stock Down 1.3 %

Shares of AVGO traded down $17.69 during midday trading on Thursday, reaching $1,307.68. 361,514 shares of the stock were exchanged, compared to its average volume of 2,827,270. Broadcom Inc. has a 52 week low of $617.99 and a 52 week high of $1,438.17. The company’s 50 day moving average is $1,308.82 and its two-hundred day moving average is $1,157.75. The company has a market capitalization of $606.01 billion, a P/E ratio of 48.58, a PEG ratio of 2.60 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter last year, the firm earned $9.83 EPS. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is presently 77.84%.

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.