FRG Family Wealth Advisors LLC Sells 4,154 Shares of Broadcom Inc. (NASDAQ:AVGO)

FRG Family Wealth Advisors LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 97,673 shares of the semiconductor manufacturer’s stock after selling 4,154 shares during the quarter. Broadcom accounts for 4.1% of FRG Family Wealth Advisors LLC’s holdings, making the stock its 5th biggest position. FRG Family Wealth Advisors LLC’s holdings in Broadcom were worth $22,645,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Howard Capital Management Group LLC grew its position in Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after acquiring an additional 2,908 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Broadcom by 1,019.4% during the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after buying an additional 6,540,800 shares in the last quarter. Financial Avengers Inc. grew its holdings in Broadcom by 904.3% during the third quarter. Financial Avengers Inc. now owns 472 shares of the semiconductor manufacturer’s stock worth $81,000 after buying an additional 425 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Broadcom during the third quarter worth $972,000. Finally, Empire Financial Management Company LLC grew its stake in Broadcom by 820.7% in the 3rd quarter. Empire Financial Management Company LLC now owns 20,274 shares of the semiconductor manufacturer’s stock valued at $3,497,000 after purchasing an additional 18,072 shares during the period. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value 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. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Henry Samueli sold 663,976 shares of the stock in a transaction dated 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 sale, the director now owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Barclays upped their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Robert W. Baird boosted their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Truist Financial upped their price target on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. Finally, TD Cowen upped their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report 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. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Price Performance

NASDAQ:AVGO opened at $175.19 on Thursday. The company has a market cap of $823.73 billion, a P/E ratio of 151.02, a P/E/G ratio of 2.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The firm’s fifty day moving average price is $197.24 and its two-hundred day moving average price is $195.96.

Broadcom announced that its Board of Directors has approved a stock buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

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.