Biltmore Family Office LLC Sells 550 Shares of Broadcom Inc. (NASDAQ:AVGO)

Biltmore Family Office LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.1% during the fourth quarter, Holdings Channel reports. The fund owned 8,527 shares of the semiconductor manufacturer’s stock after selling 550 shares during the period. Biltmore Family Office LLC’s holdings in Broadcom were worth $1,977,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AVGO. Disciplined Investors L.L.C. purchased a new stake in Broadcom in the fourth quarter worth $630,000. SevenBridge Financial Group LLC lifted its position in Broadcom by 3.2% during the fourth quarter. SevenBridge Financial Group LLC now owns 6,576 shares of the semiconductor manufacturer’s stock valued at $1,546,000 after buying an additional 205 shares during the period. Martin Investment Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at $243,000. OneAscent Financial Services LLC grew its position in shares of Broadcom by 23.5% in the 4th quarter. OneAscent Financial Services LLC now owns 3,240 shares of the semiconductor manufacturer’s stock worth $751,000 after buying an additional 617 shares during the period. Finally, Huntington National Bank increased its stake in shares of Broadcom by 2.7% in the 4th quarter. Huntington National Bank now owns 1,084,742 shares of the semiconductor manufacturer’s stock worth $251,487,000 after acquiring an additional 28,223 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $172.09 on Thursday. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The firm has a market capitalization of $809.16 billion, a price-to-earnings ratio of 140.37, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. 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 firm has a 50 day moving average of $205.27 and a 200 day moving average of $196.37.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. The ex-dividend date was 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%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AVGO. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Mizuho cut their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Barclays lifted their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Finally, Evercore ISI raised their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Buying and Selling

In related news, Director Henry Samueli sold 663,976 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were 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 approximately $7,045,847,733.60. This represents a 1.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 745,976 shares of company stock valued at $138,632,902. 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.