Ipsen Advisor Group LLC Buys New Shares in Broadcom Inc. (NASDAQ:AVGO)

Ipsen Advisor Group LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,442 shares of the semiconductor manufacturer’s stock, valued at approximately $1,494,000. Broadcom comprises about 1.3% of Ipsen Advisor Group LLC’s investment portfolio, making the stock its 20th largest holding.

A number of other hedge funds have also recently bought and sold shares of the stock. Trust Investment Advisors increased its holdings in Broadcom by 3.9% during the fourth quarter. Trust Investment Advisors now owns 23,490 shares of the semiconductor manufacturer’s stock worth $5,446,000 after buying an additional 889 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Broadcom in the 4th quarter valued at about $3,108,000. Wambolt & Associates LLC increased its stake in shares of Broadcom by 125.8% during the 4th quarter. Wambolt & Associates LLC now owns 10,666 shares of the semiconductor manufacturer’s stock worth $2,473,000 after purchasing an additional 5,942 shares during the last quarter. Momentous Wealth Management Inc. bought a new stake in shares of Broadcom in the 4th quarter valued at about $278,000. Finally, Florida Financial Advisors LLC lifted its stake in Broadcom by 33.6% in the 4th quarter. Florida Financial Advisors LLC now owns 6,717 shares of the semiconductor manufacturer’s stock valued at $1,557,000 after purchasing an additional 1,688 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays boosted their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Morgan Stanley increased their price target on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Benchmark reaffirmed a “buy” rating and set a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Jefferies Financial Group increased their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Susquehanna lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $231.48.

Insider Activity at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,000 shares of company stock valued at $21,494,560 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Down 1.6 %

NASDAQ AVGO opened at $188.26 on Wednesday. The business has a fifty day moving average price of $212.97 and a two-hundred day moving average price of $196.00. The stock has a market capitalization of $885.19 billion, a PE ratio of 153.56, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week 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.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

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.