Clune & Associates LTD. Takes Position in Broadcom Inc. (NASDAQ:AVGO)

Clune & Associates LTD. bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,434 shares of the semiconductor manufacturer's stock, valued at approximately $332,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Pin Oak Investment Advisors Inc. boosted its position in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Canton Hathaway LLC bought a new position in Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom during the 4th quarter worth about $26,000. JDM Financial Group LLC increased its stake in shares of Broadcom by 1,323.1% in 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 last quarter. Finally, Bellevue Asset Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $33,000. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 1.6 %

Shares of NASDAQ:AVGO traded down $2.99 during trading on Tuesday, hitting $188.26. 23,323,190 shares of the company were exchanged, compared to its average volume of 28,950,584. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The stock has a market cap of $885.19 billion, a price-to-earnings ratio of 153.56, a P/E/G ratio of 2.29 and a beta of 1.01. 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 firm has a fifty day moving average price of $213.70 and a two-hundred day moving average price of $195.64.

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Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.25%. Broadcom's payout ratio is 113.46%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. KeyCorp upped their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Truist Financial upped their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Mizuho reduced their target price on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Barclays increased their price target on Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Finally, Hsbc Global Res upgraded Broadcom to a "hold" rating in a report on Tuesday, December 3rd. Three 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, the stock has an average rating of "Moderate Buy" and an average target price of $231.48.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction that occurred on 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 transaction, the insider now owns 696,730 shares of the company's stock, valued at $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,000 shares of company stock valued at $21,494,560. 2.00% of the stock is currently owned by corporate insiders.

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.