Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 404,917 shares of the semiconductor manufacturer’s stock after selling 15,358 shares during the period. Broadcom accounts for 2.0% of Elo Mutual Pension Insurance Co’s portfolio, making the stock its 9th largest holding. Elo Mutual Pension Insurance Co’s holdings in Broadcom were worth $93,876,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. boosted its stake in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new position in Broadcom during the fourth quarter worth $26,000. JDM Financial Group LLC raised its stake in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the last quarter. Finally, Sellwood Investment Partners LLC acquired a new position in Broadcom during the 4th quarter valued at $32,000. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of several research reports. Truist Financial boosted their price objective on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Jefferies Financial Group boosted their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Susquehanna raised their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Robert W. Baird boosted their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Insider Activity

In other news, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction that occurred on Thursday, January 2nd. The shares were 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. The trade was a 5.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 122,000 shares of company stock valued at $27,334,060. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 4.8 %

Shares of NASDAQ AVGO opened at $179.27 on Thursday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average of $211.99 and a two-hundred day moving average of $195.88. The company has a market cap of $842.92 billion, a PE ratio of 146.22, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.32%. Broadcom’s payout ratio is 113.46%.

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.