Broadcom Inc. (NASDAQ:AVGO) is New Age Alpha Advisors LLC’s 9th Largest Position

New Age Alpha Advisors LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 156.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 105,509 shares of the semiconductor manufacturer’s stock after acquiring an additional 64,439 shares during the quarter. Broadcom accounts for about 1.0% of New Age Alpha Advisors LLC’s portfolio, making the stock its 9th largest position. New Age Alpha Advisors LLC’s holdings in Broadcom were worth $24,461,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. grew its holdings in shares of 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 in the last quarter. Canton Hathaway LLC bought a new position in Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom in the fourth quarter worth $26,000. JDM Financial Group LLC raised its holdings in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the last quarter. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Broadcom during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This trade 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 this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,000 shares of company stock valued at $27,334,060 in the last three months. 2.00% of the stock is owned by insiders.

Broadcom Trading Down 4.1 %

NASDAQ AVGO opened at $171.99 on Friday. The company’s 50-day simple moving average is $210.84 and its two-hundred day simple moving average is $195.72. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market capitalization of $808.69 billion, a price-to-earnings ratio of 140.29, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 1.37%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is presently 113.46%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AVGO. Bank of America increased their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Barclays increased their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Susquehanna upped their target price on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Benchmark reissued a “buy” rating and issued a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Mizuho decreased their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

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.