MidWestOne Financial Group Inc. Has $6.24 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

MidWestOne Financial Group Inc. lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 26,903 shares of the semiconductor manufacturer's stock after selling 2,493 shares during the period. Broadcom makes up approximately 0.9% of MidWestOne Financial Group Inc.'s holdings, making the stock its 15th largest position. MidWestOne Financial Group Inc.'s holdings in Broadcom were worth $6,237,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AVGO. Norges Bank acquired a new position in Broadcom in the 4th quarter valued at approximately $16,893,010,000. Price T Rowe Associates Inc. MD raised its holdings 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 valued at $11,018,089,000 after acquiring an additional 15,171,849 shares in the last quarter. GQG Partners LLC raised 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 acquiring an additional 6,809,245 shares in the last quarter. Vanguard Group Inc. raised its holdings in Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after acquiring an additional 6,573,204 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Broadcom by 27.4% in the 4th quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer's stock valued at $6,236,011,000 after acquiring an additional 5,783,988 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Transactions 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 sale, the director now owns 26,182 shares of the company's stock, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 in the last three months. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Mizuho dropped their target price on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, March 7th. KeyCorp increased their target price on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $229.48.

Broadcom Stock Up 0.5%

NASDAQ:AVGO opened at $231.68 on Wednesday. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $1.09 trillion, a P/E ratio of 188.97, a P/E/G ratio of 2.29 and a beta of 1.04. The stock's fifty day simple moving average is $188.62 and its 200-day simple moving average is $200.27.

Broadcom announced that its Board of Directors has approved a stock buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.02%. Broadcom's dividend payout ratio is currently 113.46%.

Broadcom 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.

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