Pictet Asset Management Holding SA Acquires 88,314 Shares of Broadcom Inc. (NASDAQ:AVGO)

Pictet Asset Management Holding SA grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,161,744 shares of the semiconductor manufacturer’s stock after buying an additional 88,314 shares during the quarter. Broadcom accounts for 1.3% of Pictet Asset Management Holding SA’s investment portfolio, making the stock its 9th largest position. Pictet Asset Management Holding SA owned about 0.11% of Broadcom worth $1,196,699,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Howard Capital Management Group LLC increased its stake in shares of Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after purchasing an additional 2,908 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after buying an additional 6,540,800 shares during the last quarter. Quest Partners LLC increased its stake in Broadcom by 3,295.8% during the 3rd quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer’s stock worth $141,000 after buying an additional 791 shares in the last quarter. Wiser Advisor Group LLC raised its holdings in shares of Broadcom by 1,665.7% during the third quarter. Wiser Advisor Group LLC now owns 618 shares of the semiconductor manufacturer’s stock valued at $107,000 after acquiring an additional 583 shares during the last quarter. Finally, Acorn Wealth Advisors LLC raised its holdings in shares of Broadcom by 1,244.8% during the third quarter. Acorn Wealth Advisors LLC now owns 2,219 shares of the semiconductor manufacturer’s stock valued at $383,000 after acquiring an additional 2,054 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of AVGO opened at $171.99 on Friday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock has a market capitalization of $808.69 billion, a PE ratio of 140.29, a PEG ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a 50-day simple moving average of $210.84 and a 200-day simple moving average of $195.72.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AVGO shares. Robert W. Baird boosted their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Piper Sandler increased their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Barclays boosted their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Benchmark reiterated a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the sale, the insider now directly owns 490,956 shares of the company’s stock, valued at $95,564,585.40. The trade was a 5.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 122,000 shares of company stock valued at $27,334,060. Insiders own 2.00% of the company’s stock.

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.