RiverFront Investment Group LLC Has $1.21 Million Position in Broadcom Inc. (NASDAQ:AVGO)

RiverFront Investment Group LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 56.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,214 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,877 shares during the quarter. RiverFront Investment Group LLC’s holdings in Broadcom were worth $1,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Pin Oak Investment Advisors Inc. lifted its position in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the period. Canton Hathaway LLC bought a new position in Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new position in Broadcom during the fourth quarter worth $26,000. JDM Financial Group LLC lifted its holdings in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the period. Finally, Sellwood Investment Partners LLC bought a new stake in Broadcom during the fourth quarter valued at $32,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

AVGO stock opened at $169.12 on Friday. The business has a 50 day moving average of $209.48 and a 200-day moving average of $195.91. The firm has a market cap of $795.19 billion, a PE ratio of 137.95, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12-month low of $119.76 and a 12-month 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.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Mizuho dropped their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Susquehanna boosted their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. KeyCorp raised their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Jefferies Financial Group increased their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $231.48.

Insider Activity at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 785,976 shares of company stock worth $147,912,102. 2.00% of the stock is owned by company insiders.

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.