AssuredPartners Investment Advisors LLC Takes $5.01 Million Position in Broadcom Inc. (NASDAQ:AVGO)

AssuredPartners Investment Advisors LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,601 shares of the semiconductor manufacturer’s stock, valued at approximately $5,008,000. Broadcom accounts for 1.0% of AssuredPartners Investment Advisors LLC’s portfolio, making the stock its 19th largest position.

Other institutional investors have also added to or reduced their stakes in the company. NEOS Investment Management LLC boosted its position in shares of Broadcom by 5.0% during the fourth quarter. NEOS Investment Management LLC now owns 450,766 shares of the semiconductor manufacturer’s stock worth $104,506,000 after buying an additional 21,636 shares during the period. Sava Infond d.o.o. bought a new stake in Broadcom in the 4th quarter valued at approximately $28,530,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Broadcom by 7.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,793,754 shares of the semiconductor manufacturer’s stock worth $1,812,437,000 after acquiring an additional 544,441 shares during the last quarter. Worth Financial Advisory Group LLC grew its stake in shares of Broadcom by 4.3% during the 4th quarter. Worth Financial Advisory Group LLC now owns 1,445 shares of the semiconductor manufacturer’s stock worth $335,000 after acquiring an additional 60 shares in the last quarter. Finally, Foundation Wealth Management LLC PA bought a new position in shares of Broadcom during the 4th quarter worth approximately $211,000. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 122,000 shares of company stock worth $27,334,060 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of research reports. Mizuho cut their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Citigroup boosted their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, March 7th. Susquehanna lifted their target price on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Finally, Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Performance

AVGO opened at $179.27 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market capitalization of $842.92 billion, a PE ratio of 146.22, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The business has a fifty day simple moving average of $211.99 and a 200 day simple moving average of $195.88. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.32%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

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.