Hemenway Trust Co LLC Buys 630 Shares of Broadcom Inc. (NASDAQ:AVGO)

Hemenway Trust Co LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 37.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,320 shares of the semiconductor manufacturer’s stock after acquiring an additional 630 shares during the quarter. Hemenway Trust Co LLC’s holdings in Broadcom were worth $538,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Canton Hathaway LLC acquired a new stake in Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter worth $26,000. JDM Financial Group LLC lifted its holdings in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares in the last quarter. Sellwood Investment Partners LLC acquired a new position in Broadcom in the fourth quarter valued at about $32,000. Finally, Bellevue Asset Management LLC bought a new stake in shares of Broadcom in the fourth quarter worth about $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler boosted their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Bank of America upped their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. William Blair restated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Truist Financial upped their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Finally, Susquehanna lifted their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Trading Down 5.0 %

AVGO stock opened at $146.29 on Friday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The stock has a market cap of $687.85 billion, a price-to-earnings ratio of 119.32, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The company has a fifty day moving average price of $201.57 and a two-hundred day moving average price of $195.95. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.61%. Broadcom’s payout ratio is currently 113.46%.

Insider Transactions at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the transaction, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry Samueli sold 663,976 shares of the stock in a transaction 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 sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 745,976 shares of company stock valued at $138,632,902. 2.00% of the stock is currently 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.