Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Full Sail Capital LLC

Full Sail Capital LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,179 shares of the semiconductor manufacturer’s stock after purchasing an additional 259 shares during the period. Full Sail Capital LLC’s holdings in Broadcom were worth $737,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Canton Hathaway LLC purchased a new position in Broadcom in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter worth $26,000. Sellwood Investment Partners LLC purchased a new stake in Broadcom in the fourth quarter valued at $32,000. Bellevue Asset Management LLC purchased a new position in shares of Broadcom during the fourth quarter worth about $33,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76 % 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, Director Justine Page sold 800 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the transaction, the director now directly owns 25,380 shares of the company’s stock, valued at $4,695,300. The trade was a 3.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Shares of AVGO opened at $208.26 on Friday. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88. The stock has a market cap of $979.23 billion, a P/E ratio of 169.87, a PEG ratio of 2.29 and a beta of 1.04. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average of $182.95 and a two-hundred day moving average of $197.33.

Broadcom declared that its Board of Directors has authorized a share repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AVGO. Truist Financial raised their price target on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Citigroup lowered their target price on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Benchmark reissued a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Finally, Seaport Res Ptn raised shares of Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $229.48.

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.