Resonant Capital Advisors LLC acquired a new position in shares of Broadcom Inc (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 701 shares of the semiconductor manufacturer’s stock, valued at approximately $222,000.
A number of other institutional investors also recently bought and sold shares of the business. Great Diamond Partners LLC bought a new stake in Broadcom during the fourth quarter worth about $27,000. Islay Capital Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at approximately $32,000. Private Ocean LLC lifted its holdings in shares of Broadcom by 1,566.7% during the 4th quarter. Private Ocean LLC now owns 100 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 94 shares during the period. Sterling Investment Advisors Ltd. bought a new stake in shares of Broadcom during the 4th quarter worth approximately $31,000. Finally, Legacy Bridge LLC acquired a new stake in shares of Broadcom during the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 83.02% of the company’s stock.
Shares of Broadcom stock traded up $25.62 during trading on Thursday, hitting $243.17. The company’s stock had a trading volume of 6,019,492 shares, compared to its average volume of 3,555,783. The stock has a market cap of $85.06 billion, a price-to-earnings ratio of 40.13, a price-to-earnings-growth ratio of 1.13 and a beta of 0.87. Broadcom Inc has a 52 week low of $155.67 and a 52 week high of $331.58. The stock has a 50-day moving average price of $271.75 and a two-hundred day moving average price of $294.91. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.56 and a quick ratio of 1.44.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be paid a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Friday, March 20th. Broadcom’s dividend payout ratio is currently 74.67%.
Several research analysts have commented on AVGO shares. ValuEngine upgraded shares of Broadcom from a “sell” rating to a “hold” rating in a research report on Tuesday, January 28th. UBS Group decreased their price target on Broadcom from $360.00 to $325.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. BMO Capital Markets raised Broadcom from a “market perform” rating to an “outperform” rating and set a $330.00 price target for the company in a report on Monday, March 16th. Oppenheimer upped their price objective on Broadcom from $315.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, Raymond James reaffirmed a “hold” rating on shares of Broadcom in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $313.81.
In other Broadcom news, CEO Hock E. Tan sold 75,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $311.02, for a total transaction of $23,326,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 420,938 shares of company stock worth $121,050,177 over the last quarter. 3.30% of the stock is currently owned by company insiders.
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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