Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 993,104 shares of the semiconductor manufacturer’s stock after selling 20,219 shares during the period. Broadcom makes up approximately 1.4% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s portfolio, making the stock its 11th biggest holding. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Broadcom were worth $230,241,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division boosted its stake in shares of Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after acquiring an additional 3,707 shares in the last quarter. Wolff Financial Management LLC purchased a new stake in Broadcom during the fourth quarter worth $244,000. Strait & Sound Wealth Management LLC grew its holdings in Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after purchasing an additional 7,095 shares during the last quarter. Motive Wealth Advisors increased its position in shares of Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after buying an additional 4,209 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in shares of Broadcom by 969.3% during the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after buying an additional 350,485 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,738 shares of company stock worth $43,395,200. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Up 3.7 %

AVGO opened at $195.57 on Thursday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm has a 50 day moving average price of $215.81 and a 200 day moving average price of $194.61. 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 has a market cap of $919.56 billion, a PE ratio of 159.52, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVGO. 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. KeyCorp lifted their price objective on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. upped their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. 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. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research 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 data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average 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.