Freedom Together Foundation Has $403,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Freedom Together Foundation cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 76.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,740 shares of the semiconductor manufacturer’s stock after selling 5,700 shares during the period. Broadcom accounts for about 0.0% of Freedom Together Foundation’s investment portfolio, making the stock its 20th biggest position. Freedom Together Foundation’s holdings in Broadcom were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of AVGO. Canton Hathaway LLC acquired a new position in Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom during the fourth quarter valued at $26,000. Sellwood Investment Partners LLC bought a new position in Broadcom in the fourth quarter valued at about $32,000. Bellevue Asset Management LLC acquired a new stake in Broadcom in the fourth quarter worth about $33,000. Finally, Synergy Investment Management LLC acquired a new position in Broadcom during the 4th quarter valued at about $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the transaction, the insider now owns 465,956 shares in the company, valued at approximately $83,872,080. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is owned by company insiders.

Broadcom Stock Up 0.2 %

Shares of AVGO stock opened at $208.26 on Friday. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $251.88. The stock has a market cap of $979.23 billion, a price-to-earnings ratio of 169.87, a PEG ratio of 2.29 and a beta of 1.04. The firm’s 50-day moving average is $182.95 and its 200-day moving average is $197.33. 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 declared that its board has authorized a stock repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Broadcom Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AVGO shares. Barclays lowered their price target on shares of Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley increased their price target on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Truist Financial lifted their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Mizuho cut their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Finally, Bank of America decreased their target price on Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Broadcom currently 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.