Trust Investment Advisors Purchases 889 Shares of Broadcom Inc. (NASDAQ:AVGO)

Trust Investment Advisors grew its position in Broadcom Inc. (NASDAQ:AVGO) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,490 shares of the semiconductor manufacturer’s stock after buying an additional 889 shares during the quarter. Broadcom accounts for approximately 3.5% of Trust Investment Advisors’ holdings, making the stock its 4th biggest holding. Trust Investment Advisors’ holdings in Broadcom were worth $5,446,000 at the end of the most recent quarter.

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

Insider Transactions at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was 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 owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,000 shares of company stock valued at $21,494,560. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $188.26 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a market capitalization of $885.19 billion, a price-to-earnings ratio of 153.56, a PEG ratio of 2.29 and a beta of 1.01. The business has a 50-day moving average of $212.97 and a 200-day moving average of $196.00.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Analysts Set New Price Targets

A number of analysts recently commented on AVGO shares. Mizuho dropped their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Bank of America raised their target price on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Truist Financial boosted their price target on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. Finally, Morgan Stanley raised their price objective on Broadcom from $246.00 to $260.00 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 issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.