Wealth Advisors of Iowa LLC Increases Holdings in Broadcom Inc. (NASDAQ:AVGO)

Wealth Advisors of Iowa LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 33.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,550 shares of the semiconductor manufacturer’s stock after purchasing an additional 390 shares during the quarter. Wealth Advisors of Iowa LLC’s holdings in Broadcom were worth $359,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pin Oak Investment Advisors Inc. raised its holdings in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares during the last quarter. Canton Hathaway LLC purchased a new position in Broadcom in the fourth quarter valued at $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom in the fourth quarter valued at $26,000. JDM Financial Group LLC grew its position in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the period. Finally, Bellevue Asset Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $33,000. 76.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AVGO shares. Truist Financial boosted their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. KeyCorp increased their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Finally, Piper Sandler upped their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Activity

In other news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,168 shares of company stock valued at $40,508,877. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $190.54 on Friday. 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 fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a market cap of $895.91 billion, a price-to-earnings ratio of 155.42, a PEG ratio of 2.29 and a beta of 1.01. The stock has a fifty day moving average price of $215.03 and a 200-day moving average price of $194.59.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.24%. Broadcom’s payout ratio is 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.