4,896 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by ZEGA Investments LLC

ZEGA Investments LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,896 shares of the semiconductor manufacturer's stock, valued at approximately $1,198,000.

Several other institutional investors have also recently modified their holdings of the stock. Swedbank AB boosted its position in Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares during the last quarter. Howard Capital Management Group LLC lifted its stake 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 worth $524,000 after purchasing an additional 2,908 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Broadcom by 1,019.4% during the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock worth $1,238,966,000 after purchasing an additional 6,540,800 shares during the last quarter. Quest Partners LLC grew its position in shares of Broadcom by 3,295.8% in the third 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 period. Finally, OneAscent Wealth Management LLC increased its stake in Broadcom by 899.0% in the third quarter. OneAscent Wealth Management LLC now owns 4,066 shares of the semiconductor manufacturer's stock valued at $701,000 after purchasing an additional 3,659 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research firms have recently commented on AVGO. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, December 13th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Bank of America lifted their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a "buy" rating in a report on Friday, December 13th. Rosenblatt Securities restated a "buy" rating and set a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Barclays increased their target price on Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Three research 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $231.48.

Broadcom Stock Down 1.6 %

AVGO traded down $2.99 during trading hours on Tuesday, reaching $188.26. 23,379,840 shares of the stock traded hands, 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 company has a market cap of $885.19 billion, a price-to-earnings ratio of 153.56, a PEG 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. The firm's fifty day simple moving average is $213.70 and its two-hundred day simple moving average is $195.64.

Broadcom Dividend Announcement

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 paid 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 is presently 113.46%.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the firm'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 transaction of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,000 shares of company stock valued at $21,494,560. 2.00% of the stock is currently owned by 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.