Pathstone Holdings LLC Grows Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Pathstone Holdings LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 470,660 shares of the semiconductor manufacturer's stock after acquiring an additional 4,867 shares during the quarter. Broadcom accounts for about 0.5% of Pathstone Holdings LLC's portfolio, making the stock its 29th biggest holding. Pathstone Holdings LLC's holdings in Broadcom were worth $109,143,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Broadcom by 1.4% during the 4th 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 period. Geode Capital Management LLC raised its holdings in shares of Broadcom by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock worth $23,647,209,000 after acquiring an additional 3,018,294 shares during the period. FMR LLC raised its holdings in shares of Broadcom by 3.2% during the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after acquiring an additional 2,873,809 shares during the period. Norges Bank purchased a new position in shares of Broadcom during the 4th quarter worth $16,893,010,000. Finally, Northern Trust Corp raised its holdings in shares of Broadcom by 12.0% during the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after acquiring an additional 5,258,925 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Down 1.7%

AVGO traded down $4.03 on Friday, reaching $228.61. The company's stock had a trading volume of 22,996,350 shares, compared to its average volume of 31,203,212. The stock has a 50 day moving average of $186.31 and a two-hundred day moving average of $198.91. 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 company has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 186.47, a P/E/G ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $251.88.

Broadcom announced that its Board of Directors has authorized a share buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in 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 usually an indication that the company's management believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is 113.46%.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the sale, the director now owns 26,182 shares in the company, valued at approximately $6,026,834.58. The trade was a 2.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction that occurred on 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 completion of 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 position. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 over the last three months. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AVGO. Rosenblatt Securities reiterated a "buy" rating and set a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Morgan Stanley boosted their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Citigroup reduced their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Barclays reduced their price objective on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Finally, Benchmark restated a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and an average price target of $229.48.

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.