Congress Wealth Management LLC DE Acquires 6,305 Shares of Broadcom Inc. (NASDAQ:AVGO)

Congress Wealth Management LLC DE lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,414 shares of the semiconductor manufacturer's stock after purchasing an additional 6,305 shares during the quarter. Congress Wealth Management LLC DE's holdings in Broadcom were worth $29,540,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. lifted its holdings in Broadcom by 900.0% during 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 acquired a new stake in shares of Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom during the 4th quarter valued at about $26,000. JDM Financial Group LLC grew its position 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 purchasing an additional 172 shares during the period. Finally, Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AVGO. Mizuho dropped their target price on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. TD Cowen increased their target price on Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Robert W. Baird boosted their price target on Broadcom from $195.00 to $210.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Finally, Jefferies Financial Group upped their price objective on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $231.48.

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Insider Activity

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares of the company's stock, valued at $26,606,317.50. This represents a 29.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,000 shares of company stock valued at $27,334,060 over the last three months. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of AVGO stock traded down $7.28 on Thursday, reaching $171.99. The stock had a trading volume of 32,105,355 shares, compared to its average volume of 29,007,410. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The firm has a market capitalization of $808.69 billion, a price-to-earnings ratio of 140.29, a P/E/G ratio of 2.29 and a beta of 1.01. The firm's 50-day moving average is $210.84 and its two-hundred day moving average is $195.72. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.37%. Broadcom's payout ratio is 113.46%.

Broadcom Company 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.