Murphy & Mullick Capital Management Corp Acquires Shares of 13,407 Broadcom Inc. (NASDAQ:AVGO)

Murphy & Mullick Capital Management Corp bought a new position in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,407 shares of the semiconductor manufacturer’s stock, valued at approximately $3,108,000. Broadcom comprises about 2.9% of Murphy & Mullick Capital Management Corp’s investment portfolio, making the stock its 5th largest position.

A number of other institutional investors have also modified their holdings of the stock. Pin Oak Investment Advisors Inc. increased its stake in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Canton Hathaway LLC bought a new position in Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom in the 4th quarter worth about $26,000. JDM Financial Group LLC increased its stake 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 purchasing an additional 172 shares during the period. Finally, Bellevue Asset Management LLC acquired a new stake in Broadcom in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Truist Financial increased their target price on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Robert W. Baird increased their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Susquehanna boosted their target price on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. KeyCorp boosted their price objective on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Finally, Piper Sandler raised their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Stock Performance

AVGO stock opened at $188.26 on Wednesday. The firm has a 50 day simple moving average of $212.97 and a 200 day simple moving average of $196.00. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock has a market cap of $885.19 billion, a P/E ratio of 153.56, a P/E/G ratio of 2.29 and a beta of 1.01. 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 business 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 dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Insider Activity

In other news, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was 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 directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now directly 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. Insiders have sold a total of 92,000 shares of company stock worth $21,494,560 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

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.