Broadcom Inc. (NASDAQ:AVGO) Position Lessened by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 284,200 shares of the semiconductor manufacturer’s stock after selling 9,000 shares during the period. Broadcom accounts for approximately 2.5% of Adams Diversified Equity Fund Inc.’s portfolio, making the stock its 7th largest holding. Adams Diversified Equity Fund Inc.’s holdings in Broadcom were worth $65,889,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. One Charles Private Wealth Services LLC lifted its stake in shares of Broadcom by 11.2% during the fourth quarter. One Charles Private Wealth Services LLC now owns 2,714 shares of the semiconductor manufacturer’s stock valued at $629,000 after buying an additional 274 shares during the period. Gutierrez Wealth Advisory LLC acquired a new position in Broadcom during the fourth quarter worth approximately $663,000. Lee Danner & Bass Inc. increased its position in Broadcom by 48.1% during the fourth quarter. Lee Danner & Bass Inc. now owns 3,984 shares of the semiconductor manufacturer’s stock worth $924,000 after purchasing an additional 1,294 shares during the last quarter. Goodman Financial Corp increased its position in Broadcom by 39.9% during the fourth quarter. Goodman Financial Corp now owns 3,655 shares of the semiconductor manufacturer’s stock worth $847,000 after purchasing an additional 1,043 shares during the last quarter. Finally, Truepoint Inc. increased its position in Broadcom by 12.1% during the fourth quarter. Truepoint Inc. now owns 4,238 shares of the semiconductor manufacturer’s stock worth $983,000 after purchasing an additional 456 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 2.6 %

NASDAQ AVGO opened at $190.54 on Friday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. 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 company has a market capitalization of $895.91 billion, a price-to-earnings ratio of 155.42, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company’s fifty day moving average price is $215.03 and its two-hundred day moving average price is $194.59.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid 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 1.24%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 172,168 shares of company stock worth $40,508,877 in the last ninety days. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on AVGO shares. TD Cowen upped their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Piper Sandler increased 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. Finally, Truist Financial increased 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. Three research 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.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price 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.