OMERS ADMINISTRATION Corp Has $290.22 Million Position in Broadcom Inc. (NASDAQ:AVGO)

OMERS ADMINISTRATION Corp lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,251,794 shares of the semiconductor manufacturer's stock after purchasing an additional 14,265 shares during the quarter. Broadcom comprises about 2.5% of OMERS ADMINISTRATION Corp's investment portfolio, making the stock its 8th largest holding. OMERS ADMINISTRATION Corp's holdings in Broadcom were worth $290,216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of AVGO. Regent Peak Wealth Advisors LLC lifted its position in Broadcom by 3.0% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 13,309 shares of the semiconductor manufacturer's stock worth $3,086,000 after purchasing an additional 386 shares during the period. RMR Wealth Builders lifted its holdings in shares of Broadcom by 1.0% in the fourth quarter. RMR Wealth Builders now owns 70,370 shares of the semiconductor manufacturer's stock valued at $16,315,000 after buying an additional 676 shares during the period. Czech National Bank lifted its holdings in shares of Broadcom by 6.8% in the fourth quarter. Czech National Bank now owns 1,012,619 shares of the semiconductor manufacturer's stock valued at $234,766,000 after buying an additional 64,370 shares during the period. Boyce & Associates Wealth Consulting Inc. bought a new position in Broadcom during the fourth quarter valued at about $242,000. Finally, Threadgill Financial LLC acquired a new position in Broadcom during the fourth quarter worth about $225,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the business's 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 transaction, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justine Page sold 800 shares of the company'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 transaction, the director now owns 25,380 shares in the company, valued at approximately $4,695,300. This trade represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 719,776 shares of company stock valued at $131,065,542 over the last three months. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Up 6.4%

AVGO opened at $221.58 on Tuesday. The firm has a market cap of $1.04 trillion, a P/E ratio of 180.74, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. 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 twelve month low of $128.50 and a twelve month high of $251.88. The business has a 50 day moving average price of $183.55 and a 200 day moving average price of $198.02.

Broadcom declared that its board has authorized a stock repurchase program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AVGO shares. Mizuho lowered their price objective on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Truist Financial lifted their price target 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. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Barclays decreased their target price on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Morgan Stanley upped their target price on Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Three investment 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 company's stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

Broadcom Company 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.

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