Tocqueville Asset Management L.P. Has $35.33 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Tocqueville Asset Management L.P. grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 152,366 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,592 shares during the period. Tocqueville Asset Management L.P.’s holdings in Broadcom were worth $35,325,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AVGO. Canton Hathaway LLC acquired a new position in Broadcom in the 4th quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the fourth quarter valued at about $26,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at about $33,000. Pin Oak Investment Advisors Inc. increased its position in 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 acquiring an additional 135 shares during the period. Finally, Synergy Investment Management LLC bought a new stake in Broadcom in the 4th quarter valued at about $35,000. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, CFO Kirsten M. Spears sold 12,570 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the transaction, the chief financial officer now directly owns 325,443 shares in the company, valued at $74,728,221.66. This trade represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,738 shares of company stock worth $43,395,200. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of analyst reports. Barclays lifted 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. TD Cowen upped their target price on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Mizuho decreased their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Morgan Stanley upped their price objective on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Finally, Robert W. Baird raised their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Performance

Broadcom stock opened at $194.50 on Tuesday. The business has a 50 day moving average of $217.28 and a 200-day moving average of $194.43. The company has a market capitalization of $914.53 billion, a P/E ratio of 158.65, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

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.