Intellus Advisors LLC Takes Position in Broadcom Inc. (NASDAQ:AVGO)

Intellus Advisors LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 56,476 shares of the semiconductor manufacturer’s stock, valued at approximately $13,093,000. Broadcom comprises approximately 2.3% of Intellus Advisors LLC’s portfolio, making the stock its 14th largest holding.

Other institutional investors also recently modified their holdings of the company. Canton Hathaway LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new position in Broadcom in the 4th quarter worth approximately $26,000. Bellevue Asset Management LLC bought a new position in Broadcom in the 4th quarter worth approximately $33,000. Pin Oak Investment Advisors Inc. raised its position 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 during the last quarter. Finally, Synergy Investment Management LLC bought a new position in Broadcom in the 4th quarter worth approximately $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $191.66 on Friday. The firm has a market cap of $901.18 billion, a PE ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01. 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 Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a fifty day moving average price of $214.38 and a 200 day moving average price of $194.79.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is presently 113.46%.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the transaction, the director now directly owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,168 shares of company stock valued at $40,508,877. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AVGO. Robert W. Baird boosted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Bank of America boosted their price objective 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. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Finally, Piper Sandler lifted their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.