1,313,602 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,313,602 shares of the semiconductor manufacturer’s stock, valued at approximately $306,526,000. Broadcom makes up approximately 1.8% of Resona Asset Management Co. Ltd.’s investment portfolio, making the stock its 8th biggest holding.

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

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 745,976 shares of company stock worth $138,632,902. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Down 5.0 %

Shares of NASDAQ:AVGO opened at $146.29 on Friday. The firm has a market cap of $687.85 billion, a price-to-earnings ratio of 119.32, a PEG ratio of 2.29 and a beta of 1.05. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company’s fifty day simple moving average is $201.57 and its 200 day simple moving average is $195.95.

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. 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 research report on Friday, December 13th. Piper Sandler lifted their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Susquehanna increased their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” 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, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $231.48.

About Broadcom

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.