HighPoint Advisor Group LLC Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

HighPoint Advisor Group LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,199 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,828 shares during the quarter. Broadcom accounts for approximately 1.2% of HighPoint Advisor Group LLC’s portfolio, making the stock its 13th largest position. HighPoint Advisor Group LLC’s holdings in Broadcom were worth $22,332,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in AVGO. KFA Private Wealth Group LLC lifted 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 worth $407,000 after acquiring an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA lifted 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 worth $391,000 after purchasing an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC boosted its stake in shares of Broadcom by 3.5% in the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after purchasing an additional 45 shares during the period. Marest Capital LLC increased its stake in Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after buying an additional 46 shares during the period. Finally, Defined Wealth Management LLC lifted its holdings in Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after buying an additional 47 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 785,976 shares of company stock worth $147,912,102. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Down 1.7 %

Broadcom stock opened at $169.12 on Monday. The stock has a market capitalization of $795.19 billion, a price-to-earnings ratio of 137.95, a PEG ratio of 2.29 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a 50 day moving average of $209.48 and a two-hundred day moving average of $196.51. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.40%. Broadcom’s payout ratio is currently 113.46%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AVGO shares. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Truist Financial lifted their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Jefferies Financial Group increased their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

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.