Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 16.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 367,221 shares of the semiconductor manufacturer’s stock after buying an additional 50,727 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Broadcom were worth $85,114,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC acquired a new stake in Broadcom in the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter worth about $26,000. Sellwood Investment Partners LLC acquired a new stake in shares of Broadcom in the 4th quarter worth approximately $32,000. Bellevue Asset Management LLC acquired a new stake in shares of Broadcom in the 4th quarter worth approximately $33,000. Finally, Synergy Investment Management LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

NASDAQ AVGO opened at $170.99 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market capitalization of $803.99 billion, a price-to-earnings ratio of 139.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The company has a 50 day simple moving average of $189.84 and a 200-day simple moving average of $196.24. Broadcom Inc. has a 52-week low of $120.05 and a 52-week high of $251.88.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.38%. Broadcom’s payout ratio is 113.46%.

Broadcom announced that its board has initiated a share buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Citigroup dropped their target price on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Barclays raised their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Truist Financial lifted their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.28.

Insider Activity

In other news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the sale, the insider now directly owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares of the company’s stock, valued at approximately $4,695,300. The trade was a 3.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 719,776 shares of company stock worth $131,065,542 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

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.