New Age Alpha Advisors LLC Has $24.46 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

New Age Alpha Advisors LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 156.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 approximately 1.0% of New Age Alpha Advisors LLC’s holdings, making the stock its 9th largest position. New Age Alpha Advisors LLC’s holdings in Broadcom were worth $24,461,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the stock. Canton Hathaway LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at approximately $26,000. Sellwood Investment Partners LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at about $32,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom during the 4th quarter worth approximately $33,000. Finally, Pin Oak Investment Advisors Inc. lifted its holdings in 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 purchasing an additional 135 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were 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 owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,000 shares of company stock valued at $27,334,060 over the last 90 days. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on AVGO shares. Bank of America raised their target price 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. Piper Sandler increased their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Evercore ISI boosted their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Down 4.1 %

AVGO opened at $171.99 on Friday. The stock has a market capitalization of $808.69 billion, a price-to-earnings ratio of 140.29, a PEG 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 twelve month low of $119.76 and a twelve month high of $251.88. The firm has a 50 day moving average price of $210.84 and a 200-day moving average price of $195.72.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued 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 is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 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.