880 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Garrison Point Advisors LLC

Garrison Point Advisors LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 880 shares of the semiconductor manufacturer’s stock, valued at approximately $204,000.

A number of other large investors have also recently bought and sold shares of the stock. Canton Hathaway LLC purchased a new stake in Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $26,000. Sellwood Investment Partners LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $32,000. Bellevue Asset Management LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $33,000. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Mizuho decreased 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. KeyCorp upped their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Jefferies Financial Group raised their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Trading Down 5.0 %

NASDAQ AVGO opened at $146.29 on Friday. The company’s fifty day simple moving average is $201.57 and its 200-day simple moving average is $196.19. The stock has a market cap of $687.85 billion, a P/E ratio of 119.32, a PEG ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. 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 Dividend Announcement

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

Insider Activity

In related news, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred 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 sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 745,976 shares of company stock worth $138,632,902 over the last ninety days. 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.