879 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Hirtle Callaghan & Co LLC

Hirtle Callaghan & Co LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 879 shares of the semiconductor manufacturer’s stock, valued at approximately $204,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Interchange Capital Partners LLC raised its position in Broadcom by 4.1% in the fourth quarter. Interchange Capital Partners LLC now owns 7,502 shares of the semiconductor manufacturer’s stock worth $1,740,000 after purchasing an additional 297 shares in the last quarter. ICW Investment Advisors LLC raised its position in Broadcom by 2.5% in the fourth quarter. ICW Investment Advisors LLC now owns 17,393 shares of the semiconductor manufacturer’s stock worth $4,032,000 after purchasing an additional 420 shares in the last quarter. Jackson Thornton Wealth Management LLC raised its position in Broadcom by 23.8% in the fourth quarter. Jackson Thornton Wealth Management LLC now owns 4,141 shares of the semiconductor manufacturer’s stock worth $960,000 after purchasing an additional 797 shares in the last quarter. United Services Automobile Association raised its position in Broadcom by 0.7% in the fourth quarter. United Services Automobile Association now owns 439,663 shares of the semiconductor manufacturer’s stock worth $101,931,000 after purchasing an additional 2,902 shares in the last quarter. Finally, Congress Wealth Management LLC DE raised its position 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 purchasing an additional 6,305 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of several research analyst reports. Piper Sandler upped their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. KeyCorp upped their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Finally, Robert W. Baird upped their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $231.48.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction on 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 completion of the sale, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,168 shares of company stock worth $37,108,677. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.6 %

Shares of AVGO stock opened at $191.66 on Monday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm’s fifty day moving average price is $214.38 and its two-hundred day moving average price is $195.37. The firm has a market capitalization of $901.18 billion, a P/E ratio of 156.33, a PEG 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. Shareholders 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 annualized dividend and a yield of 1.23%. Broadcom’s payout ratio is currently 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.