Broadcom Inc. (NASDAQ:AVGO) is Northern Trust Corp's 8th Largest Position

Northern Trust Corp grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,087,351 shares of the semiconductor manufacturer's stock after acquiring an additional 5,258,925 shares during the period. Broadcom comprises approximately 1.6% of Northern Trust Corp's investment portfolio, making the stock its 8th biggest position. Northern Trust Corp owned approximately 1.05% of Broadcom worth $11,380,411,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom in the 4th quarter valued at about $26,000. Sellwood Investment Partners LLC purchased a new position in Broadcom in the 4th quarter worth approximately $32,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom during the 4th quarter worth approximately $33,000. Finally, Synergy Investment Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now directly owns 465,956 shares in the company, valued at approximately $83,872,080. The trade was a 5.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justine Page sold 800 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the sale, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. This represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 719,776 shares of company stock valued at $131,065,542. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on AVGO shares. William Blair reissued an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Truist Financial raised their price objective on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report 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 report on Wednesday, April 16th. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $229.48.

Broadcom Stock Performance

Broadcom stock traded up $1.30 during trading hours on Wednesday, reaching $192.47. 22,283,051 shares of the stock were exchanged, compared to its average volume of 31,263,255. The stock has a market cap of $904.98 billion, a P/E ratio of 156.99, a P/E/G ratio of 2.29 and a beta of 1.05. The firm's 50 day moving average is $182.92 and its 200 day moving average is $196.21. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 52-week low of $122.33 and a 52-week high of $251.88.

Broadcom declared that its board has initiated a stock 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 reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership 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 given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's payout ratio is 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.