Bison Wealth LLC Has $3.64 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Bison Wealth LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 47.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,700 shares of the semiconductor manufacturer’s stock after selling 14,328 shares during the quarter. Broadcom comprises about 0.8% of Bison Wealth LLC’s investment portfolio, making the stock its 29th largest holding. Bison Wealth LLC’s holdings in Broadcom were worth $3,640,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wick Capital Partners LLC bought a new position in shares of Broadcom during the fourth quarter worth approximately $679,000. WealthCollab LLC grew its position in Broadcom by 14.6% during the fourth quarter. WealthCollab LLC now owns 763 shares of the semiconductor manufacturer’s stock worth $177,000 after buying an additional 97 shares in the last quarter. Bridgewealth Advisory Group LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $313,000. Voleon Capital Management LP bought a new position in Broadcom during the 4th quarter worth $14,313,000. Finally, Evergreen Wealth Solutions LLC acquired a new position in Broadcom in the 4th quarter valued at $757,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $95,564,585.40. This represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now owns 25,380 shares of the company’s stock, valued at approximately $4,695,300. The trade was a 3.06 % decrease in their ownership of the stock. 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. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $191.17 on Wednesday. The business has a 50-day moving average of $182.92 and a 200-day moving average of $196.21. Broadcom Inc. has a 1 year low of $122.33 and a 1 year high of $251.88. The company has a market capitalization of $898.87 billion, a price-to-earnings ratio of 155.93, a price-to-earnings-growth 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 announced that its board has approved a share repurchase program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently declared 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 1.23%. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Analysts Set New Price Targets

A number of brokerages recently commented on AVGO. Citigroup decreased their price target on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Truist Financial raised their target price on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. Mizuho cut their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Barclays decreased their price objective on shares of Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Morgan Stanley boosted their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.