TrueMark Investments LLC Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

TrueMark Investments LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 42.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,904 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,580 shares during the quarter. Broadcom accounts for 1.6% of TrueMark Investments LLC’s investment portfolio, making the stock its 19th biggest holding. TrueMark Investments LLC’s holdings in Broadcom were worth $5,078,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of AVGO. Financial Engines Advisors L.L.C. increased its stake in Broadcom by 326.3% in the 4th quarter. Financial Engines Advisors L.L.C. now owns 8,219 shares of the semiconductor manufacturer’s stock valued at $1,905,000 after buying an additional 6,291 shares during the period. Penobscot Investment Management Company Inc. purchased a new stake in shares of Broadcom in the fourth quarter valued at about $43,071,000. Mark Sheptoff Financial Planning LLC increased its stake in shares of Broadcom by 70.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 170 shares of the semiconductor manufacturer’s stock worth $39,000 after acquiring an additional 70 shares during the period. UNIVEST FINANCIAL Corp raised its holdings in Broadcom by 5.3% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 153,101 shares of the semiconductor manufacturer’s stock worth $35,495,000 after purchasing an additional 7,712 shares in the last quarter. Finally, Ipsen Advisor Group LLC acquired a new stake in Broadcom in the fourth quarter valued at about $1,494,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent analyst reports. Truist Financial boosted their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Morgan Stanley lifted their price target on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Evercore ISI upped their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Citigroup increased their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Three equities 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Performance

Shares of AVGO opened at $188.26 on Wednesday. The company has a market capitalization of $885.19 billion, a price-to-earnings ratio of 153.56, a PEG ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The company’s 50 day simple moving average is $212.97 and its 200 day simple moving average is $196.00.

Broadcom Announces Dividend

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

Insider Activity

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,000 shares of company stock valued at $21,494,560 over the last quarter. Company insiders own 2.00% of the company’s stock.

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.