Bedell Frazier Investment Counselling LLC Sells 1,217 Shares of Broadcom Inc. (NASDAQ:AVGO)

Bedell Frazier Investment Counselling LLC lessened its position in Broadcom Inc. (NASDAQ:AVGO) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,147 shares of the semiconductor manufacturer’s stock after selling 1,217 shares during the quarter. Bedell Frazier Investment Counselling LLC’s holdings in Broadcom were worth $2,816,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Canton Hathaway LLC acquired a new position in shares of Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom during the fourth quarter worth approximately $26,000. JDM Financial Group LLC boosted its position in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the period. Sellwood Investment Partners LLC acquired a new stake in shares of Broadcom in the fourth quarter worth $32,000. Finally, Bellevue Asset Management LLC bought a new position in Broadcom during the fourth quarter worth $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of several research reports. Susquehanna boosted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. TD Cowen raised their price objective on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Barclays boosted their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Buying and Selling at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 785,976 shares of company stock worth $147,912,102. Insiders own 2.00% of the company’s stock.

Broadcom Trading Down 1.7 %

AVGO opened at $169.12 on Monday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The firm has a 50-day moving average price of $209.48 and a two-hundred day moving average price of $196.51. The stock has a market capitalization of $795.19 billion, a PE ratio of 137.95, a PEG ratio of 2.29 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is 113.46%.

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.