Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 32.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,031,866 shares of the semiconductor manufacturer’s stock after purchasing an additional 746,081 shares during the period. Broadcom makes up 1.0% of Russell Investments Group Ltd.’s holdings, making the stock its 10th biggest holding. Russell Investments Group Ltd. owned 0.06% of Broadcom worth $703,681,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after acquiring an additional 89,975,941 shares during the last quarter. Norges Bank purchased a new position in shares of Broadcom during the fourth quarter worth $16,893,010,000. Franklin Resources Inc. grew its stake in shares of Broadcom by 1,114.6% in the third quarter. Franklin Resources Inc. now owns 21,113,921 shares of the semiconductor manufacturer’s stock valued at $3,849,270,000 after buying an additional 19,375,547 shares in the last quarter. GQG Partners LLC raised its holdings in shares of Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer’s stock valued at $2,367,819,000 after buying an additional 6,809,245 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Broadcom by 1.4% during the 4th 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 period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated 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 transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 745,976 shares of company stock worth $138,632,902. 2.00% of the stock is owned by insiders.

Broadcom Trading Down 5.0 %

Shares of AVGO stock opened at $146.29 on Friday. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The business’s 50 day moving average is $201.57 and its two-hundred day moving average is $195.95. The company has a market capitalization of $687.85 billion, a P/E ratio of 119.32, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.61%. Broadcom’s dividend payout ratio is currently 113.46%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research reports. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. TD Cowen increased their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Mizuho dropped their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Jefferies Financial Group upped their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Piper Sandler lifted their target price on Broadcom from $200.00 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 given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

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.