Grant Private Wealth Management Inc Takes $1.87 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Grant Private Wealth Management Inc bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,062 shares of the semiconductor manufacturer’s stock, valued at approximately $1,869,000. Broadcom comprises about 2.0% of Grant Private Wealth Management Inc’s investment portfolio, making the stock its 10th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC boosted its holdings in shares of Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after purchasing an additional 2,908 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after buying an additional 6,540,800 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Broadcom by 839.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 122,506 shares of the semiconductor manufacturer’s stock valued at $21,132,000 after acquiring an additional 109,459 shares during the last quarter. Motley Fool Asset Management LLC boosted its holdings in Broadcom by 876.2% in the third quarter. Motley Fool Asset Management LLC now owns 187,958 shares of the semiconductor manufacturer’s stock valued at $31,477,000 after acquiring an additional 168,703 shares during the last quarter. Finally, Morse Asset Management Inc increased its stake in Broadcom by 899.9% during the third quarter. Morse Asset Management Inc now owns 66,044 shares of the semiconductor manufacturer’s stock worth $11,393,000 after acquiring an additional 59,439 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup lifted their price objective on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Barclays raised their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Morgan Stanley increased 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. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Stock Up 2.1 %

NASDAQ:AVGO opened at $172.09 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market capitalization of $809.16 billion, a price-to-earnings ratio of 140.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The stock has a 50-day simple moving average of $205.27 and a 200 day simple moving average of $196.37.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Check Kian Low sold 48,000 shares of the company’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 transaction, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 745,976 shares of company stock worth $138,632,902 over the last ninety days. 2.00% of the stock is owned by insiders.

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.