AssuredPartners Investment Advisors LLC Invests $5.01 Million in Broadcom Inc. (NASDAQ:AVGO)

AssuredPartners Investment Advisors LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 21,601 shares of the semiconductor manufacturer’s stock, valued at approximately $5,008,000. Broadcom accounts for approximately 1.0% of AssuredPartners Investment Advisors LLC’s holdings, making the stock its 19th largest position.

A number of other institutional investors have also added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. raised its stake 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 buying an additional 135 shares in the last quarter. Canton Hathaway LLC acquired a new position in Broadcom in the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom in the fourth quarter worth about $26,000. JDM Financial Group LLC boosted its holdings in Broadcom by 1,323.1% during the third 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 in the last quarter. Finally, Sellwood Investment Partners LLC acquired a new stake in Broadcom during the fourth quarter valued at approximately $32,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the 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 sale, the director now owns 113,050 shares in the company, valued at approximately $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 122,000 shares of company stock worth $27,334,060 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AVGO. Barclays raised their target price on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Truist Financial increased their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Bank of America boosted their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Citigroup increased their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, KeyCorp upped their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating 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 MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Down 4.8 %

Shares of Broadcom stock opened at $179.27 on Thursday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The business has a fifty day simple moving average of $211.99 and a 200 day simple moving average of $195.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a market cap of $842.92 billion, a PE ratio of 146.22, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid 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 1.32%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

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.