Broadcom Inc. (NASDAQ:AVGO) Holdings Boosted by Twin Capital Management Inc.

Twin Capital Management Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 105,021 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,027 shares during the period. Broadcom makes up 2.7% of Twin Capital Management Inc.’s investment portfolio, making the stock its 6th largest holding. Twin Capital Management Inc.’s holdings in Broadcom were worth $24,348,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new position in shares of Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom in the fourth quarter worth $26,000. JDM Financial Group LLC lifted its holdings in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the period. Sellwood Investment Partners LLC purchased a new stake in shares of Broadcom during the 4th quarter worth $32,000. Finally, Bellevue Asset Management LLC purchased a new stake in shares of Broadcom during the 4th quarter worth $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on AVGO shares. Truist Financial raised their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Evercore ISI lifted their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Mizuho dropped their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Piper Sandler upped 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. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Performance

Shares of AVGO stock opened at $146.29 on Monday. The company’s fifty day simple moving average is $201.57 and its 200-day simple moving average is $196.43. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a market cap of $687.85 billion, a PE ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

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

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 697,976 shares of company stock valued at $127,336,102 over the last quarter. Company insiders own 2.00% of the company’s stock.

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.