MassMutual Private Wealth & Trust FSB Buys 17,973 Shares of Broadcom Inc. (NASDAQ:AVGO)

MassMutual Private Wealth & Trust FSB boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,671 shares of the semiconductor manufacturer's stock after buying an additional 17,973 shares during the period. Broadcom accounts for about 1.0% of MassMutual Private Wealth & Trust FSB's portfolio, making the stock its 23rd largest holding. MassMutual Private Wealth & Trust FSB's holdings in Broadcom were worth $34,603,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AVGO. KFA Private Wealth Group LLC lifted its stake in Broadcom by 2.5% during the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock valued at $407,000 after purchasing an additional 42 shares during the last quarter. Bryant Woods Investment Advisors LLC grew its stake in Broadcom by 3.5% in the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock valued at $305,000 after buying an additional 45 shares during the last quarter. Marest Capital LLC grew its stake in Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock valued at $1,052,000 after buying an additional 46 shares during the last quarter. Register Financial Advisors LLC lifted its holdings in shares of Broadcom by 1.3% during the 4th quarter. Register Financial Advisors LLC now owns 3,693 shares of the semiconductor manufacturer's stock worth $856,000 after acquiring an additional 47 shares during the period. Finally, SlateStone Wealth LLC lifted its holdings in shares of Broadcom by 0.3% during the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock worth $3,207,000 after acquiring an additional 47 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 800 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the transaction, the director now directly owns 25,380 shares in the company, valued at approximately $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. In the last quarter, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and set a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Truist Financial upped their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Redburn Atlantic assumed coverage on shares of Broadcom in a research note on Wednesday. They issued a "buy" rating and a $301.00 price target on the stock. KeyCorp increased their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Finally, Barclays cut their target price on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $238.77.

Broadcom Price Performance

Broadcom stock traded down $2.47 during midday trading on Friday, reaching $239.50. 27,045,094 shares of the company were exchanged, compared to its average volume of 31,042,717. The company has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 195.35, a P/E/G ratio of 2.29 and a beta of 1.04. The firm's 50-day simple moving average is $194.36 and its 200-day simple moving average is $202.79. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom announced that its Board of Directors has approved a stock repurchase plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Thursday, March 20th. Broadcom's payout ratio is currently 113.46%.

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.