Public Employees Retirement System of Ohio Has $560.93 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Public Employees Retirement System of Ohio lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,419,488 shares of the semiconductor manufacturer's stock after buying an additional 328,959 shares during the quarter. Broadcom comprises 1.9% of Public Employees Retirement System of Ohio's portfolio, making the stock its 7th biggest holding. Public Employees Retirement System of Ohio owned 0.05% of Broadcom worth $560,934,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Broadcom during the 4th quarter worth approximately $16,893,010,000. Price T Rowe Associates Inc. MD raised its stake in Broadcom by 46.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock worth $11,018,089,000 after acquiring an additional 15,171,849 shares during the period. GQG Partners LLC raised its stake in Broadcom by 200.0% during the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock worth $2,367,819,000 after acquiring an additional 6,809,245 shares during the period. Vanguard Group Inc. raised its stake in Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after acquiring an additional 6,573,204 shares during the period. Finally, Franklin Resources Inc. raised its stake in Broadcom by 27.4% during the 4th quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer's stock worth $6,236,011,000 after acquiring an additional 5,783,988 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 0.8%

NASDAQ AVGO traded down $1.81 on Friday, hitting $228.72. 15,375,203 shares of the stock were exchanged, compared to its average volume of 31,107,983. 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 has a fifty day moving average price of $190.82 and a two-hundred day moving average price of $201.42. The firm has a market capitalization of $1.08 trillion, a P/E ratio of 186.56, a P/E/G ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $251.88.

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. This represents a $2.36 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's payout ratio is 113.46%.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AVGO. Truist Financial lifted their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. KeyCorp lifted 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. Citigroup reduced their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, William Blair reiterated an "outperform" rating 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and an average target price of $229.48.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction 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 sale, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 over the last three months. 2.00% of the stock is owned by company 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.