Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 210,857 shares of the semiconductor manufacturer’s stock after acquiring an additional 14,825 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Broadcom were worth $48,885,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Pictet Asset Management Holding SA increased its holdings in shares of Broadcom by 1.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 5,161,744 shares of the semiconductor manufacturer’s stock valued at $1,196,699,000 after purchasing an additional 88,314 shares during the period. Broadway Wealth Solutions Inc. purchased a new position in Broadcom during the 4th quarter worth $813,000. New Age Alpha Advisors LLC lifted its stake in shares of Broadcom by 156.9% in the 4th quarter. New Age Alpha Advisors LLC now owns 105,509 shares of the semiconductor manufacturer’s stock worth $24,461,000 after acquiring an additional 64,439 shares during the period. Providence Capital Advisors LLC boosted its holdings in shares of Broadcom by 5.6% in the fourth quarter. Providence Capital Advisors LLC now owns 1,404 shares of the semiconductor manufacturer’s stock valued at $326,000 after acquiring an additional 74 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Broadcom during the fourth quarter worth about $16,893,010,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Down 4.1 %

NASDAQ AVGO opened at $171.99 on Friday. The stock has a market cap of $808.69 billion, a P/E ratio of 140.29, a PEG ratio of 2.29 and a beta of 1.01. The company’s fifty day simple moving average is $210.84 and its 200-day simple moving average is $195.72. 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 52 week low of $119.76 and a 52 week high of $251.88.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given 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 1.37%. Broadcom’s payout ratio is currently 113.46%.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,000 shares of company stock worth $27,334,060 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Jefferies Financial Group boosted their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley increased their price objective on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Bank of America boosted their target price 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. Piper Sandler raised their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Benchmark reiterated a “buy” rating and set a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

About Broadcom

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.