Invenio Wealth Partners LLC Has $1.59 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Invenio Wealth Partners LLC trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,870 shares of the semiconductor manufacturer’s stock after selling 107 shares during the quarter. Broadcom accounts for 0.7% of Invenio Wealth Partners LLC’s portfolio, making the stock its 29th largest position. Invenio Wealth Partners LLC’s holdings in Broadcom were worth $1,593,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in AVGO. Canton Hathaway LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom during the fourth quarter worth $26,000. JDM Financial Group LLC boosted its position 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 during the last quarter. Sellwood Investment Partners LLC purchased a new position in Broadcom in the fourth quarter valued at about $32,000. Finally, Bellevue Asset Management LLC acquired a new position in Broadcom in the 4th quarter worth about $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of Broadcom stock opened at $167.43 on Tuesday. The firm has a fifty day moving average price of $208.08 and a two-hundred day moving average price of $196.54. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market cap of $787.25 billion, a PE ratio of 136.57, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.41%. Broadcom’s dividend payout ratio is 113.46%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AVGO. Robert W. Baird lifted their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Piper Sandler lifted their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Susquehanna lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Finally, KeyCorp increased their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Three equities research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 785,976 shares of company stock worth $147,912,102. Company insiders own 2.00% of the company’s stock.

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.