Mendel Money Management Has $3.22 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Mendel Money Management decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,905 shares of the semiconductor manufacturer’s stock after selling 705 shares during the period. Broadcom makes up about 1.4% of Mendel Money Management’s portfolio, making the stock its 24th largest position. Mendel Money Management’s holdings in Broadcom were worth $3,224,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. KFA Private Wealth Group LLC boosted its stake in Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after purchasing an additional 42 shares during the last quarter. Dakota Community Bank & Trust NA boosted its position in shares of Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after buying an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC boosted its position in shares of Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after buying an additional 45 shares during the last quarter. Marest Capital LLC raised its position in Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after buying an additional 46 shares during the last quarter. Finally, Defined Wealth Management LLC lifted its stake in Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after acquiring an additional 47 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Down 1.6 %

Shares of AVGO opened at $188.26 on Wednesday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The firm has a market capitalization of $885.19 billion, a price-to-earnings ratio of 153.56, a PEG ratio of 2.29 and a beta of 1.01. The firm’s 50-day moving average price is $212.97 and its 200-day moving average price is $196.00. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The company also recently announced 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. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AVGO. KeyCorp increased their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Susquehanna raised their target price on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Jefferies Financial Group raised their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Activity

In other news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,000 shares of company stock worth $21,494,560 in the last quarter. 2.00% of the stock is owned by company insiders.

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.