Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Trimmed by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 19.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 253,015 shares of the semiconductor manufacturer’s stock after selling 60,779 shares during the period. Broadcom comprises approximately 1.1% of Advisors Asset Management Inc.’s holdings, making the stock its 9th biggest holding. Advisors Asset Management Inc.’s holdings in Broadcom were worth $58,659,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Canton Hathaway LLC purchased a new position in shares of Broadcom in the 4th quarter valued at $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter valued at $26,000. Bellevue Asset Management LLC acquired a new stake in Broadcom during the 4th quarter valued at $33,000. Pin Oak Investment Advisors Inc. grew its holdings in Broadcom by 900.0% during the 3rd 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. Finally, Synergy Investment Management LLC acquired a new stake in Broadcom during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $194.50 on Tuesday. The company’s 50 day moving average price is $217.28 and its 200 day moving average price is $194.43. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a market capitalization of $914.53 billion, a PE ratio of 158.65, a PEG ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Announces Dividend

The business 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 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is presently 113.46%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AVGO shares. Morgan Stanley raised their price target on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Truist Financial raised their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. Robert W. Baird raised their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Finally, Benchmark reissued a “buy” rating and set a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, 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 have sold 184,738 shares of company stock valued at $43,395,200. Corporate insiders own 2.00% of the company’s stock.

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.