Meridian Wealth Advisors LLC lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,537 shares of the semiconductor manufacturer's stock after selling 1,884 shares during the period. Meridian Wealth Advisors LLC's holdings in Broadcom were worth $3,138,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Pin Oak Investment Advisors Inc. grew its position in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 135 shares during the last quarter. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the 4th quarter worth $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at about $26,000. JDM Financial Group LLC increased its stake in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after acquiring an additional 172 shares during the period. Finally, Bellevue Asset Management LLC acquired a new position in Broadcom during the 4th quarter worth approximately $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Broadcom
In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the company's 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 completion of the transaction, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred 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 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 92,000 shares of company stock valued at $21,494,560 over the last three months. 2.00% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the company. Citigroup increased their price objective on Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. TD Cowen raised their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Mizuho reduced their price target on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Finally, Evercore ISI raised their price objective on Broadcom from $201.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $231.48.
Get Our Latest Stock Analysis on Broadcom
Broadcom Trading Down 1.2 %
NASDAQ AVGO traded down $2.29 during mid-day trading on Tuesday, hitting $188.96. The company's stock had a trading volume of 7,331,912 shares, compared to its average volume of 28,950,584. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The stock's fifty day simple moving average is $213.70 and its two-hundred day simple moving average is $195.64. The firm has a market capitalization of $888.48 billion, a P/E ratio of 154.13, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.
Broadcom Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.25%. Broadcom's dividend payout ratio is currently 113.46%.
Broadcom Profile
(
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.
See Also
Before you consider Broadcom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.
While Broadcom currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
