Retirement Systems of Alabama Has $515.20 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Retirement Systems of Alabama raised its position in Broadcom Inc. (NASDAQ:AVGO) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,222,217 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,854 shares during the quarter. Broadcom accounts for approximately 1.9% of Retirement Systems of Alabama’s holdings, making the stock its 5th biggest holding. Retirement Systems of Alabama’s holdings in Broadcom were worth $515,199,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AVGO. KFA Private Wealth Group LLC boosted its position in shares of Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after purchasing an additional 42 shares during the period. Dakota Community Bank & Trust NA raised its stake in shares of Broadcom by 2.7% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after acquiring an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC boosted its holdings in Broadcom by 3.5% in the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after purchasing an additional 45 shares during the period. Marest Capital LLC boosted its stake in shares of Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after buying an additional 46 shares during the period. Finally, Defined Wealth Management LLC grew its holdings in Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the subject of a number of research analyst reports. Benchmark reiterated a “buy” rating and issued a $255.00 price target (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. TD Cowen raised their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. lifted their price objective on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. UBS Group increased their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $224.87 on Friday. The company has a fifty day moving average price of $218.50 and a 200 day moving average price of $183.74. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The firm has a market cap of $1.05 trillion, a PE ratio of 183.42, a PEG ratio of 2.31 and a beta of 1.02. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the business earned $0.98 EPS. The company’s revenue was up 51.2% compared to the same quarter last year. Research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. Broadcom’s payout ratio is presently 191.87%.

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.