Intellus Advisors LLC Invests $13.09 Million in Broadcom Inc. (NASDAQ:AVGO)

Intellus Advisors LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 56,476 shares of the semiconductor manufacturer's stock, valued at approximately $13,093,000. Broadcom accounts for 2.3% of Intellus Advisors LLC's holdings, making the stock its 14th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB lifted its stake in Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock valued at $3,168,798,000 after acquiring an additional 16,453,718 shares during the last quarter. Howard Capital Management Group LLC raised its holdings in shares of Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock valued at $524,000 after purchasing an additional 2,908 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock valued at $1,238,966,000 after purchasing an additional 6,540,800 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Broadcom by 3,295.8% in the 3rd quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer's stock valued at $141,000 after purchasing an additional 791 shares during the last quarter. Finally, OneAscent Wealth Management LLC increased its position in Broadcom by 899.0% during the third quarter. OneAscent Wealth Management LLC now owns 4,066 shares of the semiconductor manufacturer's stock worth $701,000 after buying an additional 3,659 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

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Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the company's stock in a transaction 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 sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 92,000 shares of company stock valued at $21,494,560 over the last quarter. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler boosted their price target on Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Susquehanna boosted their target price on Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a report on Friday, December 13th. Bank of America increased their price target on Broadcom from $215.00 to $250.00 and gave the company a "buy" rating in a report on Friday, December 13th. Truist Financial boosted their price objective on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Finally, Benchmark reiterated a "buy" rating and issued a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and an average target price of $231.48.

Broadcom Stock Performance

AVGO traded down $2.99 during trading on Tuesday, reaching $188.26. 23,379,840 shares of the company's stock were exchanged, compared to its average volume of 28,950,584. The company has a market capitalization of $885.19 billion, a P/E ratio of 153.56, a PEG ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The business has a 50 day moving average price of $213.70 and a 200 day moving average price of $195.64. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. Broadcom's dividend payout ratio (DPR) is currently 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.