PKS Advisory Services LLC Acquires Shares of 4,673 Broadcom Inc. (NASDAQ:AVGO)

PKS Advisory Services LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,673 shares of the semiconductor manufacturer’s stock, valued at approximately $1,084,000.

Several other institutional investors also recently modified their holdings of AVGO. Canton Hathaway LLC bought a new stake in Broadcom in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in Broadcom during the fourth quarter valued at $26,000. Bellevue Asset Management LLC purchased a new stake in Broadcom during the fourth quarter valued at about $33,000. Pin Oak Investment Advisors Inc. boosted 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 buying an additional 135 shares during the period. Finally, Synergy Investment Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Down 0.2 %

Broadcom stock opened at $191.25 on Tuesday. The firm’s fifty day simple moving average is $213.70 and its 200-day simple moving average is $195.64. 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 Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a market capitalization of $899.25 billion, a P/E ratio of 156.00, a P/E/G ratio of 2.29 and a beta of 1.01.

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 paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is presently 113.46%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. William Blair reiterated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. TD Cowen raised their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. KeyCorp upped their target price on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Bank of America lifted their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 7.94 % 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 stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares in the company, 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 quarter, insiders have sold 92,000 shares of company stock valued at $21,494,560. 2.00% of the stock is owned by corporate insiders.

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.