Truepoint Inc. Buys 456 Shares of Broadcom Inc. (NASDAQ:AVGO)

Truepoint Inc. raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 12.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,238 shares of the semiconductor manufacturer’s stock after purchasing an additional 456 shares during the quarter. Truepoint Inc.’s holdings in Broadcom were worth $983,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AVGO. Pin Oak Investment Advisors Inc. increased 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 during the period. Canton Hathaway LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $26,000. JDM Financial Group LLC raised its holdings in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC purchased a new stake in Broadcom in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of several research reports. Barclays upped their price objective on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $231.48.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,168 shares of company stock worth $40,508,877. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $190.54 on Friday. The firm’s 50-day moving average price is $215.03 and its 200-day moving average price is $194.59. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a market cap of $895.91 billion, a PE ratio of 155.42, 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 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.