Carlson Capital Management Purchases 451 Shares of Broadcom Inc. (NASDAQ:AVGO)

Carlson Capital Management increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.5% in the 4th quarter, HoldingsChannel reports. The fund owned 7,433 shares of the semiconductor manufacturer’s stock after acquiring an additional 451 shares during the period. Carlson Capital Management’s holdings in Broadcom were worth $1,723,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Thrivent Financial for Lutherans increased its stake in Broadcom by 30.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,684,427 shares of the semiconductor manufacturer’s stock valued at $388,515,000 after purchasing an additional 395,521 shares in the last quarter. South Street Advisors LLC acquired a new position in Broadcom during the 4th quarter valued at approximately $2,798,000. Custos Family Office LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at $209,000. PDS Planning Inc boosted its holdings in shares of Broadcom by 15.5% in the 4th quarter. PDS Planning Inc now owns 24,458 shares of the semiconductor manufacturer’s stock valued at $5,670,000 after acquiring an additional 3,276 shares during the last quarter. Finally, Mystic Asset Management Inc. boosted its holdings in shares of Broadcom by 0.7% in the 4th quarter. Mystic Asset Management Inc. now owns 48,395 shares of the semiconductor manufacturer’s stock valued at $11,220,000 after acquiring an additional 330 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kirsten M. Spears sold 12,570 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the sale, the chief financial officer now owns 325,443 shares of the company’s stock, valued at approximately $74,728,221.66. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,738 shares of company stock worth $43,395,200. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent research reports. Truist Financial upped their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. Benchmark reaffirmed a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Mizuho dropped their price objective 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. Barclays upped their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Morgan Stanley increased their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $194.50 on Tuesday. The firm has a 50-day simple moving average of $217.28 and a 200-day simple moving average of $194.43. The stock has a market capitalization of $914.53 billion, a price-to-earnings ratio of 158.65, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. 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 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 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

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.