Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Interchange Capital Partners LLC

Interchange Capital Partners LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,502 shares of the semiconductor manufacturer’s stock after acquiring an additional 297 shares during the period. Interchange Capital Partners LLC’s holdings in Broadcom were worth $1,740,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ICW Investment Advisors LLC raised its position in Broadcom by 2.5% in the 4th quarter. ICW Investment Advisors LLC now owns 17,393 shares of the semiconductor manufacturer’s stock valued at $4,032,000 after purchasing an additional 420 shares in the last quarter. Jackson Thornton Wealth Management LLC increased its stake in shares of Broadcom by 23.8% during the fourth quarter. Jackson Thornton Wealth Management LLC now owns 4,141 shares of the semiconductor manufacturer’s stock worth $960,000 after buying an additional 797 shares during the period. United Services Automobile Association increased its stake in shares of Broadcom by 0.7% during the fourth quarter. United Services Automobile Association now owns 439,663 shares of the semiconductor manufacturer’s stock worth $101,931,000 after buying an additional 2,902 shares during the period. Congress Wealth Management LLC DE lifted its stake in Broadcom by 5.2% in the fourth quarter. Congress Wealth Management LLC DE now owns 127,414 shares of the semiconductor manufacturer’s stock worth $29,540,000 after acquiring an additional 6,305 shares during the last quarter. Finally, Clune & Associates LTD. purchased a new position in Broadcom in the fourth quarter worth approximately $332,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Up 0.6 %

AVGO stock opened at $191.66 on Monday. The stock has a market capitalization of $901.18 billion, a PE ratio of 156.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a fifty day moving average of $214.38 and a 200-day moving average of $195.37. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Insiders Place Their Bets

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 business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,168 shares of company stock worth $37,108,677. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AVGO shares. Truist Financial raised their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. 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. Evercore ISI upped their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Benchmark reissued a “buy” rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

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.