Perennial Investment Advisors LLC Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Perennial Investment Advisors LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,975 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,429 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Broadcom were worth $4,167,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Canton Hathaway LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at $26,000. Sellwood Investment Partners LLC acquired a new stake in Broadcom during the 4th quarter worth approximately $32,000. Bellevue Asset Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at about $33,000. Finally, Synergy Investment Management LLC acquired a new position in shares of Broadcom during the fourth quarter worth $35,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 5.0 %

NASDAQ AVGO opened at $146.29 on Friday. The business has a 50 day moving average price of $201.57 and a two-hundred day moving average price of $195.95. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. 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 stock has a market cap of $687.85 billion, a PE ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 745,976 shares of company stock valued at $138,632,902 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AVGO shares. Jefferies Financial Group lifted their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft increased their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Piper Sandler boosted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Barclays lifted their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus 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.