Baird Financial Group Inc. Has $453.53 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Baird Financial Group Inc. raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,956,210 shares of the semiconductor manufacturer's stock after acquiring an additional 32,646 shares during the period. Broadcom comprises about 0.9% of Baird Financial Group Inc.'s investment portfolio, making the stock its 25th largest position. Baird Financial Group Inc.'s holdings in Broadcom were worth $453,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity

In related news, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now owns 465,956 shares in the company, valued at approximately $83,872,080. This represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Justine Page sold 800 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the sale, the director now directly owns 25,380 shares in the company, valued at $4,695,300. This trade represents a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 719,776 shares of company stock worth $131,065,542 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 0.3 %

Shares of Broadcom stock traded down $0.63 during trading hours on Tuesday, hitting $200.09. The company's stock had a trading volume of 16,207,992 shares, compared to its average volume of 31,147,095. The company has a market capitalization of $940.81 billion, a PE ratio of 163.21, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. 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 stock has a 50 day moving average of $181.97 and a 200 day moving average of $196.86. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88.

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

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 issued a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.18%. Broadcom's dividend payout ratio (DPR) is currently 113.46%.

Analyst Ratings Changes

Several research firms have weighed in on AVGO. KeyCorp raised their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. 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, Citigroup decreased their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and an average target price 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.