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) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,485 shares of the semiconductor manufacturer’s stock, valued at approximately $576,000.

Several other large investors have also recently modified their holdings of the stock. JPL Wealth Management LLC bought a new stake in shares of Broadcom in the fourth quarter worth about $13,470,000. Elite Life Management LLC bought a new stake in shares of Broadcom in the fourth quarter worth about $212,000. Impact Capital Partners LLC bought a new stake in shares of Broadcom in the fourth quarter worth about $8,575,000. Commonwealth Equity Services LLC grew its stake in shares of Broadcom by 1.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,212,171 shares of the semiconductor manufacturer’s stock worth $281,030,000 after purchasing an additional 22,741 shares during the last quarter. Finally, DecisionMap Wealth Management LLC bought a new stake in shares of Broadcom in the fourth quarter worth about $885,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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 transaction of $4,815,916.72. Following the completion of the transaction, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 172,168 shares of company stock valued at $40,508,877 over the last three months. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of several recent analyst reports. Robert W. Baird raised their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Truist Financial lifted their price objective on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Benchmark reaffirmed a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Trading Up 0.6 %

Shares of NASDAQ AVGO opened at $191.66 on Friday. The firm’s 50 day moving average price is $214.38 and its 200-day moving average price is $195.08. The company has a market cap of $901.18 billion, a PE ratio of 156.33, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. 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 Announces Dividend

The business 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 dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. 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.