Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Private Portfolio Partners LLC

Private Portfolio Partners LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 8.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,864 shares of the semiconductor manufacturer’s stock after acquiring an additional 437 shares during the period. Private Portfolio Partners LLC’s holdings in Broadcom were worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new position in shares of Broadcom in the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom during the 4th quarter worth approximately $26,000. JDM Financial Group LLC lifted its stake in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the period. Sellwood Investment Partners LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at $32,000. Finally, Bellevue Asset Management LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction on 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 directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 785,976 shares of company stock worth $147,912,102 in the last ninety days. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of several recent research reports. Susquehanna raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. KeyCorp lifted their price objective on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. TD Cowen upped their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Truist Financial raised their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Finally, Benchmark restated a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $168.52 on Wednesday. The stock has a market capitalization of $792.37 billion, a price-to-earnings ratio of 137.46, a price-to-earnings-growth 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 firm has a 50-day simple moving average of $206.64 and a 200-day simple moving average of $196.54. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 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.