Fiduciary Group LLC Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Fiduciary Group LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,970 shares of the semiconductor manufacturer’s stock after purchasing an additional 160 shares during the period. Fiduciary Group LLC’s holdings in Broadcom were worth $1,616,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AVGO. Canton Hathaway LLC acquired a new position in shares of Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the fourth quarter worth $26,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the fourth quarter worth $33,000. Pin Oak Investment Advisors Inc. grew its stake in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Finally, Synergy Investment Management LLC acquired a new position in shares of Broadcom in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $195.57 on Thursday. The company has a 50-day simple moving average of $215.81 and a 200-day simple moving average of $194.61. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market capitalization of $919.56 billion, a price-to-earnings ratio of 159.52, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom’s payout ratio is 113.46%.

Insider Transactions at Broadcom

In other news, CFO Kirsten M. Spears sold 12,570 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the transaction, the chief financial officer now directly owns 325,443 shares in the company, valued at $74,728,221.66. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,738 shares of company stock worth $43,395,200 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on AVGO shares. Citigroup boosted their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Susquehanna lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price 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.