Broadcom Inc. (NASDAQ:AVGO) is Alerus Financial NA’s 9th Largest Position

Alerus Financial NA lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 4.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 169,676 shares of the semiconductor manufacturer’s stock after selling 7,067 shares during the quarter. Broadcom makes up about 3.0% of Alerus Financial NA’s investment portfolio, making the stock its 9th largest position. Alerus Financial NA’s holdings in Broadcom were worth $39,338,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. grew its position in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Canton Hathaway LLC bought 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 Broadcom during the fourth quarter valued at approximately $26,000. JDM Financial Group LLC lifted its holdings in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares during the period. Finally, Sellwood Investment Partners LLC bought a new stake in Broadcom during the 4th quarter valued at $32,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 4.1 %

AVGO opened at $171.99 on Friday. The business has a fifty day simple moving average of $210.84 and a 200-day simple moving average of $195.72. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a market cap of $808.69 billion, a P/E ratio of 140.29, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 1.37%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Insider Activity

In related news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom 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 transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,000 shares of company stock worth $27,334,060. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AVGO. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Bank of America lifted 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Finally, Barclays upped their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.