Fiduciary Group LLC Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Fiduciary Group LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,970 shares of the semiconductor manufacturer’s stock after purchasing an additional 160 shares during the quarter. Fiduciary Group LLC’s holdings in Broadcom were worth $1,616,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new stake in Broadcom in the fourth quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom in the fourth quarter valued at $26,000. Bellevue Asset Management LLC purchased a new stake in Broadcom in the fourth quarter valued at $33,000. Pin Oak Investment Advisors Inc. boosted its holdings in Broadcom by 900.0% in 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 during the last quarter. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom in the fourth quarter valued at $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Broadcom stock opened at $195.57 on Thursday. The firm has a 50 day simple moving average of $215.81 and a 200-day simple moving average of $194.61. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market cap of $919.56 billion, a price-to-earnings ratio of 159.52, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AVGO. Evercore ISI upped their price objective on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Mizuho decreased their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Truist Financial upped their price objective on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Barclays upped their price objective on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, William Blair reiterated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Activity

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on 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 sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,738 shares of company stock valued at $43,395,200 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Broadcom 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.