Investment House LLC Sells 300 Shares of Broadcom Inc. (NASDAQ:AVGO)

Investment House LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,930 shares of the semiconductor manufacturer’s stock after selling 300 shares during the quarter. Investment House LLC’s holdings in Broadcom were worth $2,302,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Canton Hathaway LLC bought a new position in Broadcom in the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at about $26,000. Bellevue Asset Management LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at about $33,000. Pin Oak Investment Advisors Inc. raised its holdings in shares of 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 acquiring an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at about $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO stock opened at $188.67 on Wednesday. The firm has a market cap of $887.12 billion, a P/E ratio of 153.89, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The business’s 50 day moving average price is $216.48 and its 200-day moving average price is $194.61. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Transactions at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction that occurred on Monday, January 6th. The stock was 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 in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,738 shares of company stock worth $43,395,200. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on AVGO shares. Morgan Stanley raised their price target on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Finally, Truist Financial raised their price objective on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

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.