Alcosta Capital Management Inc. Purchases 89 Shares of Broadcom Inc. (NASDAQ:AVGO)

Alcosta Capital Management Inc. boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,008 shares of the semiconductor manufacturer’s stock after purchasing an additional 89 shares during the period. Broadcom accounts for 5.0% of Alcosta Capital Management Inc.’s investment portfolio, making the stock its 5th biggest holding. Alcosta Capital Management Inc.’s holdings in Broadcom were worth $8,580,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom in the 4th quarter valued at approximately $26,000. JDM Financial Group LLC lifted its position 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 buying an additional 172 shares in the last quarter. Sellwood Investment Partners LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at $32,000. Finally, Bellevue Asset Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at $33,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Down 5.0 %

Shares of AVGO stock opened at $146.29 on Friday. Broadcom Inc. has a one year low of $119.76 and a one 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. The stock has a fifty day moving average price of $201.57 and a 200 day moving average price of $196.19. The stock has a market cap of $687.85 billion, a P/E ratio of 119.32, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of research reports. Bank of America lifted their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. KeyCorp lifted their price target on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Robert W. Baird boosted their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $231.48.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 745,976 shares of company stock worth $138,632,902 over the last quarter. Company insiders own 2.00% of the company’s stock.

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.