1,194 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Griffith & Werner Inc.

Griffith & Werner Inc. bought a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,194 shares of the semiconductor manufacturer's stock, valued at approximately $277,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Broadcom by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock worth $23,647,209,000 after buying an additional 3,018,294 shares during the last quarter. FMR LLC boosted its stake in shares of Broadcom by 3.2% during the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after buying an additional 2,873,809 shares during the last quarter. Norges Bank bought a new stake in shares of Broadcom in the 4th quarter valued at about $16,893,010,000. Finally, Northern Trust Corp raised its holdings in shares of Broadcom by 12.0% in the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after purchasing an additional 5,258,925 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 30,000 shares of the firm's 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 sale, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 720,576 shares of company stock worth $131,249,694. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded down $1.81 on Friday, reaching $228.72. 15,375,203 shares of the company's stock were exchanged, compared to its average volume of 31,107,983. The company has a fifty day moving average of $190.82 and a 200-day moving average of $201.55. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88. The company has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 186.56, a PEG ratio of 2.29 and a beta of 1.04. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom announced that its Board of Directors has authorized a share repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy 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.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. Broadcom's dividend payout ratio is 113.46%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a report on Friday, March 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Finally, KeyCorp upped their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Three research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.