Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by German American Bancorp Inc.

German American Bancorp Inc. grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,829 shares of the semiconductor manufacturer’s stock after acquiring an additional 169 shares during the period. German American Bancorp Inc.’s holdings in Broadcom were worth $1,120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AVGO. Canton Hathaway LLC bought a new stake in Broadcom in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter worth approximately $26,000. JDM Financial Group LLC increased 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 acquiring an additional 172 shares during the last quarter. Sellwood Investment Partners LLC acquired a new position in Broadcom in the fourth quarter worth $32,000. Finally, Bellevue Asset Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at about $33,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $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. Insiders have sold a total of 697,976 shares of company stock worth $127,336,102 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on AVGO shares. Robert W. Baird raised their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. raised their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Benchmark reiterated a “buy” rating and set a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Stock Performance

NASDAQ AVGO opened at $154.14 on Tuesday. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company’s 50-day simple moving average is $200.61 and its 200 day simple moving average is $196.34. The stock has a market cap of $724.76 billion, a P/E ratio of 125.73, a PEG ratio of 2.29 and a beta of 1.05.

Broadcom declared that its board has initiated a share repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

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.