Xponance Inc. Sells 1,150 Shares of Broadcom Inc. (NASDAQ:AVGO)

Xponance Inc. reduced its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,142,532 shares of the semiconductor manufacturer’s stock after selling 1,150 shares during the quarter. Broadcom makes up about 2.4% of Xponance Inc.’s portfolio, making the stock its 8th biggest holding. Xponance Inc.’s holdings in Broadcom were worth $264,885,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Canton Hathaway LLC bought a new stake in shares of Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $26,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at about $33,000. Pin Oak Investment Advisors Inc. raised its stake in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC bought a new stake in Broadcom in the 4th quarter valued at about $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s 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 completion of the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the sale, the chief financial officer now owns 325,443 shares of the company’s stock, valued at approximately $74,728,221.66. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,738 shares of company stock valued at $43,395,200 in the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $194.50 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average price of $217.28 and a 200-day moving average price of $194.43. The company has a market cap of $914.53 billion, a PE ratio of 158.65, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88.

Broadcom Announces Dividend

The business 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 dividend on an annualized basis and a yield of 1.21%. Broadcom’s dividend payout ratio is presently 113.46%.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent research reports. William Blair restated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Piper Sandler upped their target price on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Truist Financial raised their target price on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. Finally, Evercore ISI raised their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom 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.