Prudential Financial Inc. Purchases 64,201 Shares of Broadcom Inc. (NASDAQ:AVGO)

Prudential Financial Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,568,975 shares of the semiconductor manufacturer’s stock after buying an additional 64,201 shares during the period. Broadcom makes up 1.5% of Prudential Financial Inc.’s holdings, making the stock its 11th biggest holding. Prudential Financial Inc. owned about 0.10% of Broadcom worth $1,059,271,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AVGO. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $26,000. Bellevue Asset Management LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $33,000. Pin Oak Investment Advisors Inc. raised its position in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the period. Finally, Synergy Investment Management LLC bought a new stake in Broadcom in the 4th quarter worth about $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 0.6 %

NASDAQ:AVGO opened at $191.66 on Monday. The company’s 50 day moving average price is $214.38 and its 200-day moving average price is $195.37. 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 $119.76 and a 52 week high of $251.88. The stock has a market cap of $901.18 billion, a price-to-earnings ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is presently 113.46%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley lifted their price target on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Susquehanna boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Barclays boosted their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Robert W. Baird raised their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 157,168 shares of company stock worth $37,108,677 over the last three months. 2.00% of the stock is currently owned by company insiders.

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.