Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Fox Hill Wealth Management

Fox Hill Wealth Management reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,588 shares of the semiconductor manufacturer’s stock after selling 1,271 shares during the quarter. Fox Hill Wealth Management’s holdings in Broadcom were worth $1,759,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Pin Oak Investment Advisors Inc. grew its position in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Canton Hathaway LLC purchased a new position in Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom during the 4th quarter worth $26,000. JDM Financial Group LLC grew its position in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the last quarter. Finally, Bellevue Asset Management LLC purchased a new position in Broadcom during the 4th quarter worth $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Check Kian Low sold 48,000 shares of the business’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 transaction of $11,296,800.00. Following the completion of the transaction, the director now directly owns 113,050 shares of the company’s stock, 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 sold a total of 184,738 shares of company stock valued at $43,395,200 over the last 90 days. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AVGO. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Truist Financial raised their price objective on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Mizuho lowered their target price on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Finally, Susquehanna lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Stock Performance

NASDAQ:AVGO opened at $188.67 on Wednesday. The firm has a 50 day simple moving average of $216.48 and a 200-day simple moving average of $194.61. 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 firm has a market cap of $887.12 billion, a PE ratio of 153.89, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Broadcom Company 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.