Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Stokes Family Office LLC

Stokes Family Office LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 14,830 shares of the semiconductor manufacturer’s stock after buying an additional 150 shares during the quarter. Stokes Family Office LLC’s holdings in Broadcom were worth $3,438,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Platinum Investment Management Ltd. lifted its holdings in shares of Broadcom by 35.9% in the 4th quarter. Platinum Investment Management Ltd. now owns 527,301 shares of the semiconductor manufacturer’s stock valued at $122,249,000 after buying an additional 139,433 shares during the period. West Tower Group LLC raised its holdings in Broadcom by 42.9% during the fourth quarter. West Tower Group LLC now owns 1,000 shares of the semiconductor manufacturer’s stock worth $232,000 after purchasing an additional 300 shares during the last quarter. Saiph Capital LLC acquired a new position in Broadcom during the fourth quarter worth $285,000. Brooklyn FI LLC acquired a new position in Broadcom during the fourth quarter worth $3,561,000. Finally, Boston Partners raised its holdings in Broadcom by 17.7% during the fourth quarter. Boston Partners now owns 36,391 shares of the semiconductor manufacturer’s stock worth $8,437,000 after purchasing an additional 5,460 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 3.0 %

Shares of AVGO opened at $188.67 on Wednesday. The stock’s 50-day moving average is $216.48 and its two-hundred day moving average is $194.61. The stock has a market cap of $887.12 billion, a PE ratio of 153.89, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12 month low of $119.76 and a 12 month 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 12,570 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the completion of the transaction, the chief financial officer now owns 325,443 shares in the company, valued at approximately $74,728,221.66. This trade represents a 3.72 % decrease in their position. 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. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Truist Financial lifted their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. JPMorgan Chase & Co. lifted their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Susquehanna raised their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Finally, Piper Sandler raised their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” 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 assigned a buy rating to the company. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

About Broadcom

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.