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

MRP Capital Investments LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 97.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 355 shares of the semiconductor manufacturer’s stock after purchasing an additional 175 shares during the period. MRP Capital Investments LLC’s holdings in Broadcom were worth $82,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Canton Hathaway LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom in the 4th quarter worth approximately $26,000. Bellevue Asset Management LLC purchased a new position in Broadcom in the 4th quarter worth approximately $33,000. Pin Oak Investment Advisors Inc. raised 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 Broadcom in the 4th quarter worth approximately $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Down 2.6 %

NASDAQ AVGO opened at $190.54 on Friday. 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 Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock has a market capitalization of $895.91 billion, a PE ratio of 155.42, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The firm has a 50 day moving average of $215.03 and a two-hundred day moving average of $194.59.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. 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 payout ratio is 113.46%.

Analysts Set New Price Targets

AVGO has been the subject of a number of research analyst reports. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Evercore ISI lifted their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Benchmark reissued a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Piper Sandler boosted their price objective 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. Finally, Mizuho cut their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Activity at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. 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 90 days. 2.00% of the stock is owned by insiders.

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.