Legacy Bridge LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,217 shares of the semiconductor manufacturer’s stock after purchasing an additional 105 shares during the period. Broadcom makes up 1.3% of Legacy Bridge LLC’s portfolio, making the stock its 9th biggest position. Legacy Bridge LLC’s holdings in Broadcom were worth $1,799,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of AVGO. Coston McIsaac & Partners purchased a new stake in shares of Broadcom during the second quarter worth $32,000. First Personal Financial Services raised its holdings in shares of Broadcom by 126.7% during the third quarter. First Personal Financial Services now owns 68 shares of the semiconductor manufacturer’s stock worth $30,000 after acquiring an additional 38 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of Broadcom by 138.7% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 74 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 43 shares in the last quarter. Colonial Trust Advisors purchased a new stake in shares of Broadcom during the third quarter worth $36,000. Finally, Annapolis Financial Services LLC raised its holdings in shares of Broadcom by 75.5% during the third quarter. Annapolis Financial Services LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 81.28% of the company’s stock.
Broadcom Trading Down 0.9 %
Shares of NASDAQ:AVGO opened at $630.97 on Friday. Broadcom Inc. has a 52-week low of $415.07 and a 52-week high of $645.31. The company has a market cap of $263.06 billion, a P/E ratio of 21.24, a P/E/G ratio of 1.27 and a beta of 1.10. The stock’s 50-day moving average is $597.58 and its 200-day moving average is $536.05. The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.26 and a current ratio of 2.52.
Broadcom Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 22nd will be given a dividend of $4.60 per share. This represents a $18.40 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, March 21st. Broadcom’s dividend payout ratio (DPR) is presently 61.93%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on AVGO shares. Truist Financial increased their price objective on Broadcom from $659.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, March 3rd. Raymond James restated a “market perform” rating on shares of Broadcom in a report on Thursday, March 2nd. StockNews.com began coverage on Broadcom in a report on Thursday. They set a “buy” rating on the stock. Susquehanna restated a “positive” rating and set a $690.00 target price on shares of Broadcom in a report on Thursday, March 9th. Finally, Mizuho restated a “buy” rating and set a $720.00 target price on shares of Broadcom in a report on Friday. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $674.17.
Insider Buying and Selling
In related news, Director Eddy W. Hartenstein sold 3,175 shares of Broadcom stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $625.01, for a total transaction of $1,984,406.75. Following the sale, the director now directly owns 9,734 shares of the company’s stock, valued at $6,083,847.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.20% of the stock is owned by company insiders.
Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.
- Get a free copy of the StockNews.com research report on Broadcom (AVGO)
- MarketBeat Week in Review – 3/13 – 3/17
- This Small Tech With Big Growth Prospects Is Nearing A Buy Point
- Don’t Chase FedEx Higher, Wait For The Pullback
- 3 Stocks For A Defensive Tech Portfolio
- Milk the Dividends on These 3 Cash Cows
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO – Get Rating).
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.