Knights of Columbus Asset Advisors LLC Has $18.70 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Knights of Columbus Asset Advisors LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,674 shares of the semiconductor manufacturer’s stock after purchasing an additional 862 shares during the period. Broadcom accounts for about 1.2% of Knights of Columbus Asset Advisors LLC’s portfolio, making the stock its 11th biggest holding. Knights of Columbus Asset Advisors LLC’s holdings in Broadcom were worth $18,704,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Central Pacific Bank Trust Division boosted its holdings in Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after acquiring an additional 3,707 shares in the last quarter. Wolff Financial Management LLC bought a new position in Broadcom in the fourth quarter worth approximately $244,000. Strait & Sound Wealth Management LLC boosted its holdings in Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after acquiring an additional 7,095 shares in the last quarter. Motive Wealth Advisors boosted its holdings in Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after acquiring an additional 4,209 shares in the last quarter. Finally, Tidal Investments LLC boosted its holdings in Broadcom by 969.3% in the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after acquiring an additional 350,485 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO opened at $191.66 on Friday. The business has a fifty day moving average of $214.38 and a 200 day moving average of $194.79. Broadcom Inc. has a 52-week low of $119.76 and a 52-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 $901.18 billion, a P/E ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01.

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 issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AVGO shares. William Blair reiterated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Bank of America increased their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Mizuho lowered their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Evercore ISI increased their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, TD Cowen increased their price objective on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 172,168 shares of company stock worth $40,508,877 in the last quarter. 2.00% of the stock is owned by company insiders.

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.