Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,554 shares of the semiconductor manufacturer’s stock after selling 408 shares during the period. Broadcom accounts for 1.2% of Lowe Brockenbrough & Co. Inc.’s investment portfolio, making the stock its 20th largest holding. Lowe Brockenbrough & Co. Inc.’s holdings in Broadcom were worth $18,676,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Central Pacific Bank Trust Division grew its holdings in shares of Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after buying an additional 3,707 shares during the last quarter. Wolff Financial Management LLC acquired a new stake in Broadcom during the 4th quarter worth approximately $244,000. Strait & Sound Wealth Management LLC grew its stake in shares of Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after purchasing an additional 7,095 shares during the last quarter. Motive Wealth Advisors increased its holdings in shares of Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after purchasing an additional 4,209 shares during the period. Finally, Tidal Investments LLC increased its holdings in shares of Broadcom by 969.3% in the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock valued at $66,696,000 after purchasing an additional 350,485 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Bank of America boosted their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Mizuho reduced their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Finally, TD Cowen lifted their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Trading Down 2.6 %

NASDAQ:AVGO opened at $190.54 on Friday. The company has a market capitalization of $895.91 billion, a PE ratio of 155.42, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The stock has a fifty day simple moving average of $215.03 and a 200-day simple moving average of $194.59. 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 firm also recently declared 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 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the 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 in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,168 shares of company stock valued at $40,508,877 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.