Intellectus Partners LLC lessened its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 87.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181 shares of the semiconductor manufacturer’s stock after selling 1,250 shares during the quarter. Intellectus Partners LLC’s holdings in Broadcom were worth $46,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. Lincoln National Corp raised its stake in shares of Broadcom by 4.1% during the fourth quarter. Lincoln National Corp now owns 929 shares of the semiconductor manufacturer’s stock worth $236,000 after purchasing an additional 37 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Broadcom by 2.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,432 shares of the semiconductor manufacturer’s stock worth $346,000 after purchasing an additional 41 shares during the last quarter. Signature Wealth Management Group raised its stake in shares of Broadcom by 1.9% during the fourth quarter. Signature Wealth Management Group now owns 2,389 shares of the semiconductor manufacturer’s stock worth $607,000 after purchasing an additional 44 shares during the last quarter. Capital City Trust Co. FL raised its stake in shares of Broadcom by 1.0% during the fourth quarter. Capital City Trust Co. FL now owns 4,579 shares of the semiconductor manufacturer’s stock worth $1,164,000 after purchasing an additional 45 shares during the last quarter. Finally, Navellier & Associates Inc raised its position in Broadcom by 2.0% in the fourth quarter. Navellier & Associates Inc now owns 2,283 shares of the semiconductor manufacturer’s stock worth $581,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 85.76% of the company’s stock.
Shares of AVGO stock opened at $293.84 on Tuesday. Broadcom Inc has a fifty-two week low of $197.46 and a fifty-two week high of $299.55. The firm has a market capitalization of $114.99 billion, a PE ratio of 15.60, a PEG ratio of 1.25 and a beta of 0.67. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.27 and a quick ratio of 1.14.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, March 21st will be paid a dividend of $2.65 per share. This represents a $10.60 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Wednesday, March 20th. Broadcom’s payout ratio is currently 56.29%.
Several research firms have issued reports on AVGO. BidaskClub cut Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday. Loop Capital increased their price objective on Broadcom to $315.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. increased their price objective on Broadcom from $325.00 to $365.00 in a research report on Monday. MKM Partners increased their price objective on Broadcom to $310.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Argus reiterated a “buy” rating and issued a $350.00 price objective on shares of Broadcom in a research report on Monday. Eleven equities research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $299.08.
In related news, Director Donald Macleod sold 5,223 shares of the stock in a transaction on Monday, January 7th. The stock was sold at an average price of $233.65, for a total transaction of $1,220,353.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $254.99, for a total value of $5,099,800.00. The disclosure for this sale can be found here. 3.30% of the stock is owned by company insiders.
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Broadcom Company Profile
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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