ICW Investment Advisors LLC Purchases 420 Shares of Broadcom Inc. (NASDAQ:AVGO)

ICW Investment Advisors LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,393 shares of the semiconductor manufacturer’s stock after purchasing an additional 420 shares during the period. Broadcom makes up about 1.7% of ICW Investment Advisors LLC’s holdings, making the stock its 10th largest holding. ICW Investment Advisors LLC’s holdings in Broadcom were worth $4,032,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Jackson Thornton Wealth Management LLC lifted its stake in Broadcom by 23.8% during the fourth quarter. Jackson Thornton Wealth Management LLC now owns 4,141 shares of the semiconductor manufacturer’s stock worth $960,000 after purchasing an additional 797 shares in the last quarter. United Services Automobile Association lifted its stake in Broadcom by 0.7% during the fourth quarter. United Services Automobile Association now owns 439,663 shares of the semiconductor manufacturer’s stock worth $101,931,000 after purchasing an additional 2,902 shares in the last quarter. Congress Wealth Management LLC DE increased its position in shares of Broadcom by 5.2% during the fourth quarter. Congress Wealth Management LLC DE now owns 127,414 shares of the semiconductor manufacturer’s stock worth $29,540,000 after acquiring an additional 6,305 shares during the period. Clune & Associates LTD. purchased a new stake in shares of Broadcom during the fourth quarter worth $332,000. Finally, Crowley Wealth Management Inc. purchased a new stake in shares of Broadcom during the fourth quarter worth $172,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of AVGO opened at $191.66 on Monday. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a market capitalization of $901.18 billion, a price-to-earnings ratio of 156.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The firm has a 50-day simple moving average of $214.38 and a 200-day simple moving average of $195.37. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid 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 1.23%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AVGO shares. Deutsche Bank Aktiengesellschaft upped their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. KeyCorp upped their price objective on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Robert W. Baird upped their price objective on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Broadcom in a 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,168 shares of company stock worth $37,108,677. Company insiders own 2.00% of the company’s stock.

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.