Toronto Dominion Bank Has $248.29 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Toronto Dominion Bank trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 42.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,070,955 shares of the semiconductor manufacturer's stock after selling 781,794 shares during the period. Toronto Dominion Bank's holdings in Broadcom were worth $248,287,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Canton Hathaway LLC acquired a new stake in shares of Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC acquired 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 during the 4th quarter worth about $32,000. Bellevue Asset Management LLC acquired a new stake in shares of Broadcom during the 4th quarter worth about $33,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Broadcom during the 4th quarter worth about $35,000. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Up 0.9%

Broadcom stock traded up $2.02 during midday trading on Monday, hitting $230.63. 15,321,285 shares of the stock were exchanged, compared to its average volume of 31,191,926. The company has a fifty day simple moving average of $187.08 and a two-hundred day simple moving average of $199.61. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88. The stock has a market capitalization of $1.08 trillion, a PE ratio of 188.12, a P/E/G ratio of 2.29 and a beta of 1.04. 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 announced that its board has initiated a share buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding 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 typically a sign that the company's leadership believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.02%. The ex-dividend date was Thursday, March 20th. Broadcom's payout ratio is 113.46%.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 800 shares of Broadcom 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 transaction, the director now owns 25,380 shares of the company's stock, valued at approximately $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock valued at $131,249,694 in the last 90 days. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent analyst reports. Bank of America dropped their target price on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Mizuho lowered their price objective on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. William Blair restated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Morgan Stanley raised their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $229.48.

Broadcom Company 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.