Madison Investment Advisors LLC Invests $576,000 in Broadcom Inc. (NASDAQ:AVGO)

Madison Investment Advisors LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,485 shares of the semiconductor manufacturer’s stock, valued at approximately $576,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. JPL Wealth Management LLC purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $13,470,000. Elite Life Management LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $212,000. Impact Capital Partners LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $8,575,000. Commonwealth Equity Services LLC increased its position in shares of Broadcom by 1.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 1,212,171 shares of the semiconductor manufacturer’s stock valued at $281,030,000 after acquiring an additional 22,741 shares during the last quarter. Finally, DecisionMap Wealth Management LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $885,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 172,168 shares of company stock worth $40,508,877 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.6 %

Shares of AVGO stock opened at $191.66 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 52-week low of $119.76 and a 52-week high of $251.88. The company has a market capitalization of $901.18 billion, a PE ratio of 156.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The business’s fifty day moving average is $214.38 and its 200 day moving average is $195.08.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. Broadcom’s payout ratio is 113.46%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AVGO. KeyCorp increased their price target on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Piper Sandler increased their price target on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Barclays increased their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Finally, Susquehanna increased their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $231.48.

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.