Holderness Investments Co. Purchases 1,100 Shares of Broadcom Inc. (NASDAQ:AVGO)

Holderness Investments Co. lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,543 shares of the semiconductor manufacturer’s stock after buying an additional 1,100 shares during the quarter. Broadcom comprises approximately 2.0% of Holderness Investments Co.’s holdings, making the stock its 7th largest position. Holderness Investments Co.’s holdings in Broadcom were worth $8,936,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. lifted its position in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Canton Hathaway LLC acquired a new position in Broadcom during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter valued at $26,000. JDM Financial Group LLC lifted its holdings in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $33,000. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Broadcom news, CFO Kirsten M. Spears sold 12,570 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the transaction, the chief financial officer now owns 325,443 shares of the company’s stock, valued at $74,728,221.66. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,738 shares of company stock worth $43,395,200. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

AVGO has been the subject of a number of recent research reports. Barclays upped their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Piper Sandler boosted their price target on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Benchmark restated a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Citigroup raised their price objective on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Three 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, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $195.57 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a fifty day moving average price of $215.81 and a 200 day moving average price of $194.61. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a market cap of $919.56 billion, a PE ratio of 159.52, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.21%. Broadcom’s payout ratio is currently 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.