WealthTrak Capital Management LLC Purchases Shares of 1,658 Broadcom Inc. (NASDAQ:AVGO)

WealthTrak Capital Management LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,658 shares of the semiconductor manufacturer’s stock, valued at approximately $384,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hobbs Group Advisors LLC increased its position in Broadcom by 35.0% during the 4th quarter. Hobbs Group Advisors LLC now owns 906 shares of the semiconductor manufacturer’s stock worth $210,000 after purchasing an additional 235 shares in the last quarter. Allstate Corp grew its stake in Broadcom by 3,333.3% during the fourth quarter. Allstate Corp now owns 131,667 shares of the semiconductor manufacturer’s stock worth $30,526,000 after buying an additional 127,832 shares during the period. Maridea Wealth Management LLC acquired a new stake in shares of Broadcom in the fourth quarter worth $316,000. Brown Brothers Harriman & Co. increased its position in shares of Broadcom by 12.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 68,033 shares of the semiconductor manufacturer’s stock worth $15,773,000 after acquiring an additional 7,774 shares in the last quarter. Finally, RiverFront Investment Group LLC raised its stake in shares of Broadcom by 56.2% in the 4th quarter. RiverFront Investment Group LLC now owns 5,214 shares of the semiconductor manufacturer’s stock valued at $1,209,000 after acquiring an additional 1,877 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Broadcom stock opened at $169.12 on Friday. The company has a market cap of $795.19 billion, a PE ratio of 137.95, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a fifty day moving average price of $209.48 and a two-hundred day moving average price of $195.91. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom Announces Dividend

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 given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. Benchmark reiterated a “buy” rating and issued a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. KeyCorp raised their target price on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. TD Cowen upped their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Evercore ISI increased their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, William Blair reissued an “outperform” rating on shares of Broadcom in a research 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’s stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Buying and Selling

In related news, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated 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 sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 785,976 shares of company stock worth $147,912,102 over the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Company 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.