3,960 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Hall Capital Management Co. Inc.

Hall Capital Management Co. Inc. purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,960 shares of the semiconductor manufacturer's stock, valued at approximately $918,000.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Broadcom during the fourth quarter worth $16,893,010,000. Price T Rowe Associates Inc. MD raised its stake in Broadcom by 46.9% in 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 purchasing an additional 15,171,849 shares in the last quarter. GQG Partners LLC boosted its holdings in Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock valued at $2,367,819,000 after purchasing an additional 6,809,245 shares during the period. Vanguard Group Inc. grew its position 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 purchasing an additional 6,573,204 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Broadcom by 27.4% during the fourth quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer's stock worth $6,236,011,000 after purchasing an additional 5,783,988 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Citigroup reduced their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Morgan Stanley increased their target price on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. William Blair restated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Benchmark reaffirmed a "buy" rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Three 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $229.48.

Broadcom Price Performance

AVGO stock traded up $6.93 during midday trading on Tuesday, reaching $235.65. 17,906,364 shares of the stock were exchanged, compared to its average volume of 31,055,312. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88. The company has a fifty day moving average price of $191.49 and a 200 day moving average price of $201.86. 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 market capitalization of $1.11 trillion, a PE ratio of 192.21, a P/E/G 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. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

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

Insider Activity at Broadcom

In related news, Director Justine Page sold 800 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the transaction, the director now directly owns 26,182 shares of the company's stock, valued at $6,026,834.58. This trade represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction dated 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 completion of 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 position. The disclosure for this sale can be found here. Insiders sold a total of 720,576 shares of company stock worth $131,249,694 in the last quarter. 2.00% of the stock is owned by insiders.

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.