BlueChip Wealth Advisors LLC Invests $234,000 in Broadcom Inc. (NASDAQ:AVGO)

BlueChip Wealth Advisors LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, Holdings Channel reports. The firm acquired 1,008 shares of the semiconductor manufacturer’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Canton Hathaway LLC acquired a new stake in Broadcom in the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the fourth quarter valued at about $26,000. Sellwood Investment Partners LLC acquired a new stake in Broadcom during the fourth quarter worth about $32,000. Bellevue Asset Management LLC bought a new position in Broadcom during the fourth quarter valued at about $33,000. Finally, Pin Oak Investment Advisors Inc. raised its holdings in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AVGO. Morgan Stanley lifted their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Susquehanna raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, KeyCorp increased their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Activity

In related news, Director Check Kian Low sold 48,000 shares of the business’s 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 completion of the sale, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 785,976 shares of company stock valued at $147,912,102 over the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

AVGO stock opened at $169.12 on Friday. The company has a 50 day moving average price of $209.48 and a 200 day moving average price of $195.91. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $795.19 billion, a PE ratio of 137.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.40%. Broadcom’s payout ratio is currently 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.