Millstone Evans Group LLC Takes $149,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Millstone Evans Group LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, HoldingsChannel.com reports. The firm bought 644 shares of the semiconductor manufacturer’s stock, valued at approximately $149,000.

A number of other institutional investors also recently modified their holdings of the business. Mindset Wealth Management LLC boosted its position in shares of Broadcom by 3.5% in the fourth quarter. Mindset Wealth Management LLC now owns 10,972 shares of the semiconductor manufacturer’s stock valued at $2,544,000 after acquiring an additional 374 shares during the period. Wealth Advisors of Iowa LLC boosted its position in shares of Broadcom by 33.6% in the fourth quarter. Wealth Advisors of Iowa LLC now owns 1,550 shares of the semiconductor manufacturer’s stock valued at $359,000 after acquiring an additional 390 shares during the period. MRP Capital Investments LLC boosted its position in shares of Broadcom by 97.2% in the fourth quarter. MRP Capital Investments LLC now owns 355 shares of the semiconductor manufacturer’s stock valued at $82,000 after acquiring an additional 175 shares during the period. 1620 Investment Advisors Inc. boosted its position in shares of Broadcom by 7.7% in the fourth quarter. 1620 Investment Advisors Inc. now owns 4,204 shares of the semiconductor manufacturer’s stock valued at $975,000 after acquiring an additional 299 shares during the period. Finally, Paragon Capital Management LLC acquired a new position in Broadcom in the fourth quarter valued at about $225,000. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AVGO. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. KeyCorp boosted their price target on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. TD Cowen boosted their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Mizuho dropped their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. boosted their price target on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $231.48.

Insider Activity at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % 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 over the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $191.66 on Friday. The business’s 50 day simple moving average is $214.38 and its 200 day simple moving average is $195.08. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The stock has a market capitalization of $901.18 billion, a PE ratio of 156.33, a PEG 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio 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.