Broadcom Inc. (NASDAQ:AVGO) is Quantinno Capital Management LP's 10th Largest Position

Quantinno Capital Management LP increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 27.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 467,295 shares of the semiconductor manufacturer's stock after purchasing an additional 100,397 shares during the quarter. Broadcom accounts for 1.1% of Quantinno Capital Management LP's portfolio, making the stock its 10th biggest holding. Quantinno Capital Management LP's holdings in Broadcom were worth $108,338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Canton Hathaway LLC purchased a new stake in Broadcom during the fourth quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the fourth quarter valued at $26,000. Sellwood Investment Partners LLC purchased a new stake in Broadcom during the fourth quarter valued at $32,000. Bellevue Asset Management LLC purchased a new stake in Broadcom during the fourth quarter valued at $33,000. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom during the fourth quarter valued at $35,000. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on AVGO. Barclays reduced their price objective on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. William Blair reiterated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Citigroup reduced their price objective on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Truist Financial upped their price target on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Finally, Mizuho reduced their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and a consensus target price of $229.48.

Broadcom Price Performance

NASDAQ AVGO traded down $4.03 during trading on Friday, hitting $228.61. 22,996,350 shares of the stock traded hands, compared to its average volume of 31,203,212. The company has a market capitalization of $1.07 trillion, a P/E ratio of 186.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The firm has a 50-day simple moving average of $186.31 and a 200-day simple 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. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio is presently 113.46%.

Broadcom declared that its Board of Directors has approved a share buyback program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of Broadcom 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 transaction, the director now owns 26,182 shares of the company's stock, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock worth $131,249,694 in the last quarter. 2.00% of the stock is owned by corporate insiders.

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.