IPG Investment Advisors LLC Sells 2,575 Shares of Broadcom Inc. (NASDAQ:AVGO)

IPG Investment Advisors LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO) by 11.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,990 shares of the semiconductor manufacturer’s stock after selling 2,575 shares during the quarter. Broadcom comprises 1.1% of IPG Investment Advisors LLC’s portfolio, making the stock its 26th biggest holding. IPG Investment Advisors LLC’s holdings in Broadcom were worth $4,634,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of AVGO. Howard Capital Management Group LLC grew its holdings in Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after purchasing an additional 2,908 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Broadcom by 1,019.4% during the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after buying an additional 6,540,800 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Broadcom by 858.9% during the third quarter. Rockefeller Capital Management L.P. now owns 2,599,462 shares of the semiconductor manufacturer’s stock valued at $456,095,000 after buying an additional 2,328,367 shares during the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of Broadcom by 896.8% in the third quarter. Atlantic Union Bankshares Corp now owns 160,706 shares of the semiconductor manufacturer’s stock worth $27,722,000 after buying an additional 144,584 shares during the period. Finally, Captrust Financial Advisors lifted its stake in shares of Broadcom by 903.0% during the 3rd quarter. Captrust Financial Advisors now owns 1,025,690 shares of the semiconductor manufacturer’s stock worth $176,932,000 after acquiring an additional 923,426 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 1.7 %

Broadcom stock opened at $169.12 on Friday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock has a 50-day moving average price of $209.48 and a 200 day moving average price of $196.25. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $795.19 billion, a price-to-earnings ratio of 137.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 785,976 shares of company stock worth $147,912,102 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group increased their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Bank of America lifted their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Truist Financial upped their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Mizuho decreased their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Finally, KeyCorp increased their price objective on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $231.48.

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.