Broadcom Inc. (NASDAQ:AVGO) is Cincinnati Financial Corp’s 2nd Largest Position

Cincinnati Financial Corp decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,724,909 shares of the semiconductor manufacturer’s stock after selling 9,151 shares during the quarter. Broadcom comprises about 8.8% of Cincinnati Financial Corp’s investment portfolio, making the stock its 2nd largest position. Cincinnati Financial Corp’s holdings in Broadcom were worth $399,903,000 at the end of the most recent quarter.

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

Broadcom Stock Down 4.1 %

Shares of Broadcom stock opened at $171.99 on Friday. 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 company has a market capitalization of $808.69 billion, a P/E ratio of 140.29, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a 50 day moving average of $210.84 and a 200 day moving average of $195.72.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.37%. Broadcom’s payout ratio is 113.46%.

Wall Street Analyst Weigh In

AVGO has been the subject of several research reports. Morgan Stanley upped their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Truist Financial lifted their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Bank of America upped their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Insider Activity at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction on 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 owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,000 shares of company stock worth $27,334,060 in the last 90 days. 2.00% of the stock is owned by 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.