Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 14.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,358,690 shares of the semiconductor manufacturer's stock after purchasing an additional 1,974,620 shares during the period. Broadcom accounts for approximately 1.8% of Janus Henderson Group PLC's portfolio, making the stock its 8th largest position. Janus Henderson Group PLC owned 0.33% of Broadcom worth $3,560,643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of 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 purchasing an additional 18,845 shares during the last quarter. Wolff Financial Management LLC purchased a new stake in Broadcom during the 4th quarter worth about $244,000. Motive Wealth Advisors raised its stake in Broadcom by 1,076.5% in the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock valued at $1,066,000 after purchasing an additional 4,209 shares during the last quarter. Nebula Research & Development LLC boosted its stake in shares of Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after purchasing an additional 14,399 shares during the last quarter. Finally, TTP Investments Inc. grew its holdings in shares of Broadcom by 71.7% during the fourth quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer's stock worth $14,061,000 after buying an additional 25,330 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction 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 trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 719,776 shares of company stock worth $131,065,542 in the last quarter. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the subject of several analyst reports. Citigroup dropped their target price on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Barclays dropped their price target on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Rosenblatt Securities restated a "buy" rating and issued a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Truist Financial upped 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. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $229.48.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $7.10 during trading hours on Tuesday, reaching $228.68. 4,445,917 shares of the stock traded hands, compared to its average volume of 31,139,201. The company has a market capitalization of $1.08 trillion, a P/E ratio of 186.00, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The company's 50-day simple moving average is $183.55 and its two-hundred day simple moving average is $198.02. 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 52-week low of $128.50 and a 52-week high of $251.88.

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

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio is 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.