MRP Capital Investments LLC Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

MRP Capital Investments LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 97.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 355 shares of the semiconductor manufacturer’s stock after buying an additional 175 shares during the quarter. MRP Capital Investments LLC’s holdings in Broadcom were worth $82,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AVGO. 1620 Investment Advisors Inc. grew its holdings in Broadcom by 7.7% during the 4th quarter. 1620 Investment Advisors Inc. now owns 4,204 shares of the semiconductor manufacturer’s stock valued at $975,000 after purchasing an additional 299 shares in the last quarter. Paragon Capital Management LLC acquired a new stake in Broadcom during the 4th quarter valued at $225,000. Wayfinding Financial LLC acquired a new stake in Broadcom during the 4th quarter valued at $822,000. One Charles Private Wealth Services LLC grew its holdings in Broadcom by 11.2% during the 4th quarter. One Charles Private Wealth Services LLC now owns 2,714 shares of the semiconductor manufacturer’s stock valued at $629,000 after purchasing an additional 274 shares in the last quarter. Finally, Gutierrez Wealth Advisory LLC acquired a new stake in Broadcom during the 4th quarter valued at $663,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now 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 disclosure for this sale can be found here. Over the last three months, insiders sold 172,168 shares of company stock worth $40,508,877. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AVGO. KeyCorp raised their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Mizuho decreased their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Performance

Broadcom stock opened at $190.54 on Friday. The firm’s 50 day simple moving average is $215.03 and its 200-day simple moving average is $194.59. The company has a market cap of $895.91 billion, a P/E ratio of 155.42, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. 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 Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 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.