OneAscent Financial Services LLC Has $751,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

OneAscent Financial Services LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 23.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,240 shares of the semiconductor manufacturer’s stock after acquiring an additional 617 shares during the period. OneAscent Financial Services LLC’s holdings in Broadcom were worth $751,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Canton Hathaway LLC bought a new position in Broadcom during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $26,000. JDM Financial Group LLC raised its stake in shares of Broadcom by 1,323.1% in 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. Sellwood Investment Partners LLC bought a new position in Broadcom in the fourth quarter worth $32,000. Finally, Bellevue Asset Management LLC acquired a new stake in Broadcom during the fourth quarter worth $33,000. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on AVGO. Robert W. Baird raised their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. TD Cowen upped their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Evercore ISI lifted their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Bank of America upped 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. Finally, Susquehanna lifted their target price 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. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 745,976 shares of company stock valued at $138,632,902. 2.00% of the stock is owned by company insiders.

Broadcom Stock Up 2.1 %

Shares of NASDAQ AVGO opened at $172.09 on Thursday. The firm has a 50 day moving average price of $205.27 and a 200 day moving average price of $196.37. 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 stock has a market cap of $809.16 billion, a P/E ratio of 140.37, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

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.