Fullcircle Wealth LLC Reduces Position in Broadcom Inc. (NASDAQ:AVGO)

Fullcircle Wealth LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 15.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,005 shares of the semiconductor manufacturer’s stock after selling 1,806 shares during the period. Broadcom makes up about 1.0% of Fullcircle Wealth LLC’s portfolio, making the stock its 23rd biggest holding. Fullcircle Wealth LLC’s holdings in Broadcom were worth $2,359,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of Broadcom by 1,019.4% in 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 acquiring an additional 6,540,800 shares during the period. Bank of New Hampshire raised its position in shares of Broadcom by 41.4% during the 4th quarter. Bank of New Hampshire now owns 820 shares of the semiconductor manufacturer’s stock worth $190,000 after purchasing an additional 240 shares during the last quarter. Regent Peak Wealth Advisors LLC raised its holdings in shares of Broadcom by 3.0% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 13,309 shares of the semiconductor manufacturer’s stock valued at $3,086,000 after acquiring an additional 386 shares during the last quarter. Weaver Consulting Group raised its stake in Broadcom by 3.0% in the 4th quarter. Weaver Consulting Group now owns 2,847 shares of the semiconductor manufacturer’s stock valued at $660,000 after purchasing an additional 84 shares during the last quarter. Finally, Park National Corp OH lifted its holdings in Broadcom by 8.9% in the 4th quarter. Park National Corp OH now owns 11,912 shares of the semiconductor manufacturer’s stock valued at $2,762,000 after purchasing an additional 974 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 2.4 %

AVGO stock opened at $204.81 on Thursday. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $251.88. The company’s 50 day moving average price is $182.12 and its 200 day moving average price is $196.94. 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 capitalization of $963.01 billion, a price-to-earnings ratio of 167.06, a PEG ratio of 2.29 and a beta of 1.04.

Broadcom announced that its Board of Directors has authorized a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.15%. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 800 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the sale, the director now owns 25,380 shares of the company’s stock, valued at approximately $4,695,300. This trade represents a 3.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 25,000 shares of the business’s 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 sale, the insider now owns 465,956 shares of the company’s stock, valued at $83,872,080. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 719,776 shares of company stock worth $131,065,542. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AVGO. Citigroup reduced their target price on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Mizuho lowered their price objective 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, Seaport Res Ptn raised shares of Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Three investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $229.48.

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.