Ipsen Advisor Group LLC Takes $1.49 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Ipsen Advisor Group LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,442 shares of the semiconductor manufacturer’s stock, valued at approximately $1,494,000. Broadcom accounts for approximately 1.3% of Ipsen Advisor Group LLC’s investment portfolio, making the stock its 20th largest holding.

A number of other institutional investors also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC bought a new position in shares of Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom during the fourth quarter valued at $26,000. Bellevue Asset Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at $33,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of 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 acquired a new stake in shares of Broadcom during the 4th quarter worth about $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on AVGO shares. Truist Financial boosted their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. TD Cowen increased their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Mizuho cut 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. JPMorgan Chase & Co. increased their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Benchmark reaffirmed a “buy” rating and issued a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Three equities 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, Broadcom has an average rating of “Moderate Buy” and an average price target of $231.48.

Insider Buying and Selling at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,000 shares of company stock valued at $21,494,560. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

AVGO stock opened at $188.26 on Wednesday. The business’s 50-day moving average price is $212.97 and its two-hundred day moving average price is $196.00. 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 firm has a market cap of $885.19 billion, a PE ratio of 153.56, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom Dividend Announcement

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

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.