Alta Advisers Ltd boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 19.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,599 shares of the semiconductor manufacturer's stock after buying an additional 2,589 shares during the period. Broadcom makes up about 2.3% of Alta Advisers Ltd's portfolio, making the stock its 11th biggest holding. Alta Advisers Ltd's holdings in Broadcom were worth $3,616,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. grew its position in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Canton Hathaway LLC purchased a new position in shares of Broadcom in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter valued at $26,000. JDM Financial Group LLC lifted its position in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after buying an additional 172 shares during the last quarter. Finally, Sellwood Investment Partners LLC bought a new stake in Broadcom in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 76.43% of the company's stock.
Broadcom Stock Performance
Shares of NASDAQ AVGO traded down $2.99 during midday trading on Tuesday, reaching $188.26. The company had a trading volume of 23,352,547 shares, compared to its average volume of 28,950,584. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The business's 50-day simple moving average is $213.70 and its 200 day simple moving average is $195.64. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market cap of $885.19 billion, a P/E ratio of 153.56, a P/E/G ratio of 2.29 and a beta of 1.01.
Broadcom Dividend Announcement
The company also recently disclosed 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Thursday, March 20th. Broadcom's dividend payout ratio is presently 113.46%.
Analysts Set New Price Targets
AVGO has been the topic of several recent analyst reports. Barclays increased their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Evercore ISI boosted their target price on Broadcom from $201.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. KeyCorp increased their price target on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $231.48.
Get Our Latest Stock Analysis on Broadcom
Insider Transactions at Broadcom
In other news, insider Charlie B. Kawwas sold 40,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares of the company's stock, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 113,050 shares in the company, valued at $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 92,000 shares of company stock worth $21,494,560 over the last three months. 2.00% of the stock is currently owned by insiders.
About Broadcom
(
Free Report)
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.
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