Fullerton Fund Management Co Ltd. Has $46.73 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Fullerton Fund Management Co Ltd. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 45.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,574 shares of the semiconductor manufacturer's stock after buying an additional 63,203 shares during the period. Broadcom comprises approximately 1.6% of Fullerton Fund Management Co Ltd.'s holdings, making the stock its 18th largest holding. Fullerton Fund Management Co Ltd.'s holdings in Broadcom were worth $46,733,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Broadcom by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after acquiring an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Broadcom by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock worth $23,647,209,000 after purchasing an additional 3,018,294 shares during the period. FMR LLC lifted its holdings in shares of Broadcom by 3.2% during the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after purchasing an additional 2,873,809 shares during the period. Norges Bank acquired a new stake in shares of Broadcom during the fourth quarter worth about $16,893,010,000. Finally, Northern Trust Corp lifted its holdings in shares of Broadcom by 12.0% during the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after purchasing an additional 5,258,925 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock valued at $131,065,542 over the last quarter. Company insiders own 2.00% of the company's stock.

Broadcom Stock Up 6.4%

Shares of Broadcom stock traded up $13.38 during midday trading on Monday, hitting $221.58. The company's stock had a trading volume of 25,396,664 shares, compared to its average volume of 31,237,738. The firm has a market capitalization of $1.04 trillion, a P/E ratio of 180.74, a PEG ratio of 2.29 and a beta of 1.04. The stock has a 50-day simple moving average of $182.95 and a 200-day simple moving average of $197.68. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $251.88.

Broadcom declared that its board has authorized a stock buyback plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Broadcom Dividend Announcement

The firm also recently announced 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 was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.07%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Truist Financial boosted their price target on Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a report on Friday, March 7th. Barclays decreased their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Bank of America decreased their price target on Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $229.48.

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.