Maridea Wealth Management LLC Purchases Shares of 1,365 Broadcom Inc. (NASDAQ:AVGO)

Maridea Wealth Management LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, Holdings Channel reports. The firm acquired 1,365 shares of the semiconductor manufacturer’s stock, valued at approximately $316,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of AVGO. Brown Brothers Harriman & Co. raised its position in Broadcom by 12.9% in the fourth quarter. Brown Brothers Harriman & Co. now owns 68,033 shares of the semiconductor manufacturer’s stock worth $15,773,000 after acquiring an additional 7,774 shares in the last quarter. RiverFront Investment Group LLC raised its holdings in shares of Broadcom by 56.2% in the 4th quarter. RiverFront Investment Group LLC now owns 5,214 shares of the semiconductor manufacturer’s stock worth $1,209,000 after purchasing an additional 1,877 shares in the last quarter. DnB Asset Management AS boosted its holdings in Broadcom by 2.9% during the fourth quarter. DnB Asset Management AS now owns 1,174,780 shares of the semiconductor manufacturer’s stock worth $272,361,000 after buying an additional 33,127 shares in the last quarter. Level Four Advisory Services LLC boosted its holdings in Broadcom by 5.4% during the fourth quarter. Level Four Advisory Services LLC now owns 126,332 shares of the semiconductor manufacturer’s stock worth $29,289,000 after buying an additional 6,436 shares in the last quarter. Finally, Vertex Planning Partners LLC grew its position in Broadcom by 40.0% in the fourth quarter. Vertex Planning Partners LLC now owns 1,663 shares of the semiconductor manufacturer’s stock worth $386,000 after buying an additional 475 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68 % 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, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 785,976 shares of company stock valued at $147,912,102 over the last three months. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

AVGO stock opened at $169.12 on Friday. The firm has a 50 day moving average of $209.48 and a two-hundred day moving average of $196.25. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a market capitalization of $795.19 billion, a price-to-earnings ratio of 137.95, a P/E/G 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 yield of 1.40%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AVGO shares. Truist Financial raised their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft lifted their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. TD Cowen raised their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Bank of America raised their target price on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Barclays upped their price target on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.