Congress Wealth Management LLC DE Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Congress Wealth Management LLC DE grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,414 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,305 shares during the period. Congress Wealth Management LLC DE’s holdings in Broadcom were worth $29,540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AVGO. Canton Hathaway LLC purchased a new stake in Broadcom in the 4th quarter worth $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom in the fourth quarter worth about $26,000. Bellevue Asset Management LLC purchased a new stake in shares of Broadcom in the fourth quarter worth about $33,000. Pin Oak Investment Advisors Inc. boosted its stake in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Finally, Synergy Investment Management LLC bought a new stake in Broadcom in the 4th quarter worth approximately $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 0.6 %

NASDAQ:AVGO opened at $191.66 on Monday. The firm has a 50-day simple moving average of $214.38 and a 200-day simple moving average of $195.37. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The firm has a market cap of $901.18 billion, a P/E ratio of 156.33, a P/E/G ratio of 2.29 and a beta of 1.01. 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. Investors of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Insiders Place Their Bets

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 157,168 shares of company stock worth $37,108,677 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Citigroup increased their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Piper Sandler boosted their price objective on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Benchmark reaffirmed a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research note 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

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.