PDS Planning Inc Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

PDS Planning Inc increased its position in Broadcom Inc. (NASDAQ:AVGO) by 15.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,458 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,276 shares during the period. PDS Planning Inc’s holdings in Broadcom were worth $5,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. grew its position in Broadcom by 0.7% during the 4th quarter. Mystic Asset Management Inc. now owns 48,395 shares of the semiconductor manufacturer’s stock worth $11,220,000 after purchasing an additional 330 shares during the period. Haven Capital Group Inc. acquired a new stake in Broadcom during the 4th quarter worth about $19,166,000. Primecap Management Co. CA grew its position in Broadcom by 0.8% during the 4th quarter. Primecap Management Co. CA now owns 957,880 shares of the semiconductor manufacturer’s stock worth $222,075,000 after purchasing an additional 7,245 shares during the period. Tocqueville Asset Management L.P. grew its position in Broadcom by 2.4% during the 4th quarter. Tocqueville Asset Management L.P. now owns 152,366 shares of the semiconductor manufacturer’s stock worth $35,325,000 after purchasing an additional 3,592 shares during the period. Finally, William Blair Investment Management LLC grew its position in Broadcom by 202.9% during the 4th quarter. William Blair Investment Management LLC now owns 647,615 shares of the semiconductor manufacturer’s stock worth $150,143,000 after purchasing an additional 433,787 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Bank of America increased their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Piper Sandler raised their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Evercore ISI raised their target price on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research 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’s stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Trading Down 0.5 %

AVGO opened at $194.50 on Tuesday. 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 company’s 50 day simple moving average is $217.28 and its two-hundred day simple moving average is $194.43. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The firm has a market capitalization of $914.53 billion, a price-to-earnings ratio of 158.65, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,738 shares of company stock valued at $43,395,200 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

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.