Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by OneAscent Financial Services LLC

OneAscent Financial Services LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 23.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AVGO. Huntington National Bank raised its holdings in Broadcom by 2.7% in the 4th quarter. Huntington National Bank now owns 1,084,742 shares of the semiconductor manufacturer’s stock valued at $251,487,000 after acquiring an additional 28,223 shares during the last quarter. Private Portfolio Partners LLC increased its stake in Broadcom by 8.1% in the fourth quarter. Private Portfolio Partners LLC now owns 5,864 shares of the semiconductor manufacturer’s stock valued at $1,359,000 after purchasing an additional 437 shares during the last quarter. Kesler Norman & Wride LLC lifted its position in Broadcom by 1.1% during the fourth quarter. Kesler Norman & Wride LLC now owns 34,203 shares of the semiconductor manufacturer’s stock worth $7,930,000 after buying an additional 358 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Broadcom by 170.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,525,614 shares of the semiconductor manufacturer’s stock worth $585,538,000 after buying an additional 1,590,203 shares during the period. Finally, RFG Bristol Wealth Advisors LLC purchased a new stake in Broadcom in the 4th quarter valued at about $4,956,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $172.09 on Thursday. 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 Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a fifty day moving average price of $205.27 and a 200 day moving average price of $196.37. The company has a market cap of $809.16 billion, a P/E ratio of 140.37, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

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

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the stock in a transaction on 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 sale, the director now owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 745,976 shares of company stock worth $138,632,902 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Benchmark restated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Robert W. Baird increased their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Morgan Stanley raised their target price on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Bank of America upped their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $231.48.

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.