Hemenway Trust Co LLC Acquires 630 Shares of Broadcom Inc. (NASDAQ:AVGO)

Hemenway Trust Co LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 37.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,320 shares of the semiconductor manufacturer’s stock after purchasing an additional 630 shares during the period. Hemenway Trust Co LLC’s holdings in Broadcom were worth $538,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Canton Hathaway LLC acquired a new position in Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at approximately $26,000. JDM Financial Group LLC increased its position in Broadcom by 1,323.1% during the 3rd 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 position in Broadcom in the 4th quarter valued at approximately $32,000. Finally, Bellevue Asset Management LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Mizuho lowered their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Bank of America increased their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Citigroup boosted their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Robert W. Baird boosted their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Performance

Shares of AVGO opened at $146.29 on Friday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a market cap of $687.85 billion, a PE ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05. The stock has a 50-day moving average of $201.57 and a 200-day moving average of $195.95. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid 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 1.61%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insider Activity

In other news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 745,976 shares of company stock worth $138,632,902 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

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.