New Hampshire Trust Has $5.57 Million Position in Broadcom Inc. (NASDAQ:AVGO)

New Hampshire Trust decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,247 shares of the semiconductor manufacturer's stock after selling 2,471 shares during the quarter. Broadcom comprises approximately 1.3% of New Hampshire Trust's investment portfolio, making the stock its 20th biggest holding. New Hampshire Trust's holdings in Broadcom were worth $5,567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after acquiring an additional 18,845 shares during the last quarter. Nebula Research & Development LLC boosted its holdings in shares of Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after buying an additional 14,399 shares during the period. Destiny Wealth Partners LLC boosted its holdings in shares of Broadcom by 1,211.3% in the fourth quarter. Destiny Wealth Partners LLC now owns 27,013 shares of the semiconductor manufacturer's stock valued at $6,263,000 after buying an additional 24,953 shares during the period. Mediolanum International Funds Ltd boosted its holdings in shares of Broadcom by 36.3% in the fourth quarter. Mediolanum International Funds Ltd now owns 634,112 shares of the semiconductor manufacturer's stock valued at $149,017,000 after buying an additional 168,774 shares during the period. Finally, Kovack Advisors Inc. boosted its holdings in shares of Broadcom by 8.1% in the fourth quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer's stock valued at $7,971,000 after buying an additional 2,570 shares during the period. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research analyst reports. William Blair reiterated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Citigroup upped their price target on shares of Broadcom from $210.00 to $276.00 and gave the company a "buy" rating in a report on Tuesday. Barclays reduced their price target on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Benchmark reiterated a "buy" rating and issued a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $250.00 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-six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $241.31.

Broadcom Stock Performance

Shares of AVGO stock traded up $6.30 on Tuesday, hitting $255.01. The company's stock had a trading volume of 15,325,079 shares, compared to its average volume of 30,767,959. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock's 50 day moving average is $196.77 and its 200-day moving average is $204.25. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $257.81. The company has a market capitalization of $1.20 trillion, a PE ratio of 208.00, a PEG ratio of 2.29 and a beta of 1.04.

Broadcom Announces Dividend

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 dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.93%. Broadcom's payout ratio is 113.46%.

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

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. This represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Justine Page sold 800 shares of the stock in a transaction dated 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 owns 25,380 shares in the company, valued at $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 over the last ninety days. Corporate insiders own 2.00% of the company's stock.

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.