PKS Advisory Services LLC Takes Position in Broadcom Inc. (NASDAQ:AVGO)

PKS Advisory Services LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,673 shares of the semiconductor manufacturer's stock, valued at approximately $1,084,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter worth approximately $26,000. Bellevue Asset Management LLC acquired a new position in Broadcom during the 4th quarter valued at approximately $33,000. Pin Oak Investment Advisors Inc. raised its holdings in shares of 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 buying an additional 135 shares during the last quarter. Finally, Synergy Investment Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the business's stock in a transaction that occurred on 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 sale, the director now directly owns 113,050 shares of the company's stock, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders have sold 785,976 shares of company stock valued at $147,912,102 over the last 90 days. 2.00% of the stock is owned by insiders.

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Broadcom Trading Down 1.7 %

NASDAQ:AVGO traded down $2.87 on Friday, reaching $169.12. The company's stock had a trading volume of 30,361,772 shares, compared to its average volume of 30,371,173. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The stock has a 50 day moving average price of $209.48 and a 200 day moving average price of $195.91. The firm has a market cap of $795.19 billion, a price-to-earnings ratio of 137.95, a price-to-earnings-growth 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.

Broadcom Dividend Announcement

The business also recently disclosed 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 1.40%. Broadcom's dividend payout ratio (DPR) is currently 113.46%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Jefferies Financial Group upped their target price on Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Truist Financial upped their price objective on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Piper Sandler raised their target price on Broadcom from $200.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Hsbc Global Res raised shares of Broadcom to a "hold" rating in a report on Tuesday, December 3rd. Finally, Citigroup lifted their price objective on Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $231.48.

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.