Broadcom Inc. (NASDAQ:AVGO) Shares Sold by TIAA Trust National Association

TIAA Trust National Association cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 12.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 390,410 shares of the semiconductor manufacturer’s stock after selling 55,300 shares during the period. TIAA Trust National Association’s holdings in Broadcom were worth $90,514,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. raised its stake in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Canton Hathaway LLC acquired a new stake in shares of Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth about $26,000. JDM Financial Group LLC lifted its holdings in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the last quarter. Finally, Bellevue Asset Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at about $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on AVGO. Jefferies Financial Group lifted their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Piper Sandler lifted their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. William Blair reiterated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Susquehanna raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Finally, Bank of America upped their target price on shares of Broadcom from $215.00 to $250.00 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 assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Trading Down 0.2 %

Shares of AVGO stock opened at $191.25 on Tuesday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The firm’s 50-day simple moving average is $213.70 and its 200-day simple moving average is $195.64. The firm has a market cap of $899.25 billion, a P/E ratio of 156.00, a PEG ratio of 2.29 and a beta of 1.01. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. Broadcom’s dividend payout ratio is presently 113.46%.

Insider Transactions at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,000 shares of company stock worth $21,494,560 in the last ninety days. 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.