126,662 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Triglav Skladi D.O.O.

Triglav Skladi D.O.O. acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 126,662 shares of the semiconductor manufacturer's stock, valued at approximately $29,364,000. Broadcom makes up about 2.3% of Triglav Skladi D.O.O.'s investment portfolio, making the stock its 11th biggest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. KFA Private Wealth Group LLC raised its holdings in shares of Broadcom by 2.5% in the 4th 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 period. Dakota Community Bank & Trust NA lifted its position in shares of Broadcom by 2.7% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock valued at $391,000 after buying an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC boosted its stake in shares of Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock worth $305,000 after acquiring an additional 45 shares during the period. Marest Capital LLC increased its holdings in shares of Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock worth $1,052,000 after acquiring an additional 46 shares during the last quarter. Finally, Defined Wealth Management LLC raised its stake in Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock valued at $2,947,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AVGO. Barclays lowered their target price on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. William Blair reiterated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Bank of America decreased their target price on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Truist Financial raised their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Finally, 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. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and a consensus target price of $229.48.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $1.05 during midday trading on Tuesday, reaching $231.68. 11,749,421 shares of the company were exchanged, compared to its average volume of 31,130,408. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88. The stock has a market cap of $1.09 trillion, a P/E ratio of 188.97, a PEG ratio of 2.29 and a beta of 1.04. 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 stock's 50-day moving average price is $188.62 and its 200-day moving average price is $200.27.

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 1.02%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

Broadcom declared that its Board of Directors has authorized a share repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the transaction, the insider now directly owns 465,956 shares of the company's stock, valued at $83,872,080. The trade was a 5.09% decrease in their ownership of the stock. 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 stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the sale, the director now directly owns 26,182 shares of the company's stock, valued at $6,026,834.58. This represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock worth $131,249,694 in the last ninety days. Company insiders own 2.00% of the company's stock.

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.