Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,559 shares of the semiconductor manufacturer’s stock after selling 433 shares during the period. Angeles Investment Advisors LLC’s holdings in Broadcom were worth $1,289,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Congress Wealth Management LLC DE grew its holdings in shares of Broadcom by 5.2% in the 4th quarter. Congress Wealth Management LLC DE now owns 127,414 shares of the semiconductor manufacturer’s stock worth $29,540,000 after acquiring an additional 6,305 shares during the period. Clune & Associates LTD. acquired a new stake in Broadcom during the 4th quarter valued at $332,000. Crowley Wealth Management Inc. acquired a new stake in Broadcom during the 4th quarter valued at $172,000. FCA Corp TX lifted its stake in shares of Broadcom by 0.7% during the 4th quarter. FCA Corp TX now owns 10,792 shares of the semiconductor manufacturer’s stock worth $2,502,000 after purchasing an additional 73 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after purchasing an additional 6,573,204 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 0.6 %

Shares of Broadcom stock opened at $191.66 on Monday. The company has a market capitalization of $901.18 billion, a PE ratio of 156.33, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The business has a 50-day moving average of $214.38 and a 200-day moving average of $195.37. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 157,168 shares of company stock worth $37,108,677. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AVGO. Mizuho cut their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Piper Sandler increased their target price on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. KeyCorp increased their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. increased their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Morgan Stanley increased their target price on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Three 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

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.