1620 Investment Advisors Inc. Acquires 299 Shares of Broadcom Inc. (NASDAQ:AVGO)

1620 Investment Advisors Inc. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,204 shares of the semiconductor manufacturer’s stock after buying an additional 299 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Broadcom were worth $975,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. grew its holdings in shares of Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Canton Hathaway LLC bought a new stake in Broadcom in the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom in the 4th quarter worth $26,000. JDM Financial Group LLC grew its holdings in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares during the last quarter. Finally, Bellevue Asset Management LLC bought a new stake in Broadcom in the 4th quarter worth $33,000. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. Susquehanna raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Piper Sandler raised their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Morgan Stanley raised their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Jefferies Financial Group lifted their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Insider Transactions at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,168 shares of company stock worth $40,508,877. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 2.6 %

Shares of NASDAQ AVGO opened at $190.54 on Friday. The firm’s 50 day moving average price is $215.03 and its 200-day moving average price is $194.59. The company has a market cap of $895.91 billion, a PE ratio of 155.42, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.24%. Broadcom’s dividend payout ratio is presently 113.46%.

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.