Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Darden Wealth Group Inc

Darden Wealth Group Inc raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 16.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,025 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,085 shares during the period. Broadcom accounts for approximately 3.4% of Darden Wealth Group Inc’s investment portfolio, making the stock its 6th biggest position. Darden Wealth Group Inc’s holdings in Broadcom were worth $5,106,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AVGO. Canton Hathaway LLC bought a new position in Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom during the fourth quarter worth approximately $26,000. Sellwood Investment Partners LLC bought a new stake in Broadcom in the 4th quarter valued at $32,000. Bellevue Asset Management LLC acquired a new position in Broadcom in the 4th quarter valued at $33,000. Finally, Synergy Investment Management LLC bought a new position in Broadcom during the 4th quarter worth $35,000. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 745,976 shares of company stock worth $138,632,902. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Benchmark reissued a “buy” rating and issued a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. KeyCorp increased their target price 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. Robert W. Baird raised their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” 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 for the company in a research note on Friday, March 7th. Finally, Susquehanna raised their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Performance

Shares of AVGO stock opened at $146.29 on Friday. The firm has a market capitalization of $687.85 billion, a price-to-earnings ratio of 119.32, a PEG ratio of 2.29 and a beta of 1.05. 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 business’s 50-day moving average price is $201.57 and its 200-day moving average price is $196.19. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Broadcom Company 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.