Broadcom Inc. (NASDAQ:AVGO) is Weaver C. Barksdale & Associates Inc.’s 2nd Largest Position

Weaver C. Barksdale & Associates Inc. cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 26.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,932 shares of the semiconductor manufacturer’s stock after selling 3,969 shares during the quarter. Broadcom accounts for approximately 2.4% of Weaver C. Barksdale & Associates Inc.’s holdings, making the stock its 2nd biggest holding. Weaver C. Barksdale & Associates Inc.’s holdings in Broadcom were worth $2,534,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Canton Hathaway LLC purchased a new position in Broadcom in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the fourth quarter worth $26,000. Bellevue Asset Management LLC bought a new stake in Broadcom during the 4th quarter valued at $33,000. Pin Oak Investment Advisors Inc. grew its holdings in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. Finally, Synergy Investment Management LLC purchased a new position in shares of Broadcom in the fourth quarter valued at about $35,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO stock opened at $188.26 on Wednesday. The firm has a market capitalization of $885.19 billion, a PE ratio of 153.56, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a 50 day moving average price of $212.97 and a 200-day moving average price of $196.00. 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.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.25%. Broadcom’s payout ratio is 113.46%.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Check Kian Low sold 48,000 shares of the company’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 transaction of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,000 shares of company stock worth $21,494,560 in the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AVGO. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Morgan Stanley raised their price target on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Bank of America upped their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom 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.