National Pension Service Has $1.49 Billion Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• The National Pension Service increased its stake in Broadcom Inc. by 3.7%, with holdings valued at approximately $1.49 billion, making it the fund's 10th largest position.
• Institutional investors collectively own 76.43% of Broadcom's stock, indicating strong confidence in the semiconductor manufacturer.
• Broadcom recently announced a quarterly dividend of $0.59 per share, reflecting a 0.8% dividend yield and a payout ratio of 88.39%.

National Pension Service increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,908,304 shares of the semiconductor manufacturer's stock after acquiring an additional 314,747 shares during the period. Broadcom comprises approximately 1.4% of National Pension Service's investment portfolio, making the stock its 10th largest holding. National Pension Service owned 0.19% of Broadcom worth $1,491,517,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Broadcom by 3.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after buying an additional 18,845 shares during the period. PARUS FINANCE UK Ltd raised its stake in Broadcom by 175.3% in the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock valued at $16,840,000 after buying an additional 64,038 shares during the period. Nebula Research & Development LLC raised its stake in Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after buying an additional 14,399 shares during the period. Keener Financial Planning LLC raised its stake in Broadcom by 34.8% in the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after buying an additional 230 shares during the period. Finally, Diversify Wealth Management LLC raised its stake in Broadcom by 5.6% in the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after buying an additional 2,016 shares during the period. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 117,758 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the transaction, the chief executive officer directly owned 1,014,152 shares in the company, valued at approximately $256,489,182.32. This represents a 10.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry Samueli sold 473,898 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 829,716 shares of company stock worth $217,040,489 in the last ninety days. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on AVGO shares. KeyCorp upped their price objective on Broadcom from $315.00 to $330.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Benchmark upped their target price on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. Citigroup upped their target price on Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Broadcom has a consensus rating of "Buy" and a consensus target price of $295.96.

Broadcom Price Performance

Shares of AVGO stock traded up $2.14 during trading hours on Thursday, reaching $311.23. The company's stock had a trading volume of 15,694,460 shares, compared to its average volume of 26,255,822. The firm's 50 day simple moving average is $276.06 and its 200-day simple moving average is $228.20. The company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 116.57, a PEG ratio of 2.22 and a beta of 1.15. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $317.35. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company's revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $10.96 EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is presently 88.39%.

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.