Truepoint Inc. Purchases 456 Shares of Broadcom Inc. (NASDAQ:AVGO)

Truepoint Inc. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,238 shares of the semiconductor manufacturer’s stock after buying an additional 456 shares during the period. Truepoint Inc.’s holdings in Broadcom were worth $983,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AVGO. Independent Solutions Wealth Management LLC raised its position in shares of Broadcom by 4.1% during the fourth quarter. Independent Solutions Wealth Management LLC now owns 51,140 shares of the semiconductor manufacturer’s stock valued at $11,856,000 after buying an additional 2,004 shares during the last quarter. DCF Advisers LLC grew its stake in Broadcom by 40.0% during the fourth quarter. DCF Advisers LLC now owns 7,000 shares of the semiconductor manufacturer’s stock valued at $1,623,000 after acquiring an additional 2,000 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Broadcom by 4.9% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 297,571 shares of the semiconductor manufacturer’s stock valued at $68,989,000 after acquiring an additional 13,936 shares in the last quarter. RWQ Financial Management Services Inc. increased its holdings in Broadcom by 675.6% in the 4th quarter. RWQ Financial Management Services Inc. now owns 80,688 shares of the semiconductor manufacturer’s stock valued at $18,707,000 after acquiring an additional 70,285 shares during the last quarter. Finally, Holderness Investments Co. lifted its stake in Broadcom by 2.9% in the 4th quarter. Holderness Investments Co. now owns 38,543 shares of the semiconductor manufacturer’s stock worth $8,936,000 after purchasing an additional 1,100 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Price Performance

AVGO opened at $190.54 on Friday. The business has a fifty day moving average of $215.03 and a 200 day moving average of $194.59. The stock has a market cap of $895.91 billion, a P/E ratio of 155.42, a PEG ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88.

Broadcom Dividend Announcement

The business also recently declared 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is presently 113.46%.

Insider Transactions at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction 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 transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 172,168 shares of company stock worth $40,508,877. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research reports. Bank of America lifted their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Robert W. Baird raised their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Finally, Evercore ISI upped their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three 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 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.