Broadcom Inc. (NASDAQ:AVGO) Holdings Raised by Mystic Asset Management Inc.

Mystic Asset Management Inc. grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 48,395 shares of the semiconductor manufacturer’s stock after buying an additional 330 shares during the quarter. Broadcom accounts for approximately 3.0% of Mystic Asset Management Inc.’s portfolio, making the stock its 4th biggest position. Mystic Asset Management Inc.’s holdings in Broadcom were worth $11,220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. Pin Oak Investment Advisors Inc. increased 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 buying an additional 135 shares during the last quarter. Canton Hathaway LLC acquired a new position in shares of Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at about $26,000. JDM Financial Group LLC raised its position in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC purchased a new stake in Broadcom during the fourth quarter worth approximately $33,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at approximately $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. Insiders have sold 184,738 shares of company stock valued at $43,395,200 over the last quarter. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AVGO. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Citigroup lifted their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Truist Financial upped their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Benchmark reissued a “buy” rating and issued a $255.00 target price 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Price Performance

Shares of AVGO opened at $194.50 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock’s 50 day moving average is $217.28 and its two-hundred day moving average is $194.43. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The firm has a market capitalization of $914.53 billion, a PE ratio of 158.65, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 dividend on an annualized basis and a dividend yield of 1.21%. 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.