Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Headinvest LLC

Headinvest LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,422 shares of the semiconductor manufacturer’s stock after purchasing an additional 252 shares during the quarter. Headinvest LLC’s holdings in Broadcom were worth $793,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. KFA Private Wealth Group LLC boosted its holdings in shares of Broadcom by 2.5% during the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after acquiring an additional 42 shares during the period. Bryant Woods Investment Advisors LLC boosted its stake in Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after purchasing an additional 45 shares during the period. Marest Capital LLC boosted its stake in Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after purchasing an additional 46 shares during the period. Register Financial Advisors LLC grew its position in Broadcom by 1.3% in the 4th quarter. Register Financial Advisors LLC now owns 3,693 shares of the semiconductor manufacturer’s stock worth $856,000 after purchasing an additional 47 shares during the last quarter. Finally, SlateStone Wealth LLC increased its stake in shares of Broadcom by 0.3% in the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock valued at $3,207,000 after purchasing an additional 47 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on AVGO. Morgan Stanley lifted their target price on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Truist Financial raised their price objective 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. Benchmark restated a “buy” rating and issued a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. Finally, Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $229.48.

Broadcom Price Performance

Shares of AVGO opened at $229.73 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market cap of $1.08 trillion, a PE ratio of 187.38, a PEG ratio of 2.29 and a beta of 1.04. The firm’s 50 day moving average price is $189.30 and its 200 day moving average price is $200.47. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88.

Broadcom Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Thursday, March 20th. Broadcom’s payout ratio is presently 113.46%.

Broadcom declared that its Board of Directors has approved a stock repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Broadcom news, 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 transaction of $4,500,000.00. Following the transaction, the insider now owns 465,956 shares in the company, valued at $83,872,080. This trade represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the transaction, the director now directly owns 26,182 shares in the company, valued at approximately $6,026,834.58. This represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock valued at $131,249,694 over the last three months. 2.00% of the stock is currently owned by insiders.

Broadcom Company 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.