Broadcom Inc. (NASDAQ:AVGO) Stake Lowered by Ellevest Inc.

Ellevest Inc. lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 18.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,317 shares of the semiconductor manufacturer’s stock after selling 728 shares during the quarter. Ellevest Inc.’s holdings in Broadcom were worth $769,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock valued at $120,070,000 after purchasing an additional 18,845 shares in the last quarter. Wolff Financial Management LLC bought a new position in Broadcom during the fourth quarter valued at about $244,000. Motive Wealth Advisors raised its position in Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after acquiring an additional 4,209 shares in the last quarter. Nebula Research & Development LLC lifted its holdings in Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock valued at $3,642,000 after acquiring an additional 14,399 shares during the last quarter. Finally, LVM Capital Management Ltd. MI lifted its holdings in Broadcom by 763.6% in the 4th quarter. LVM Capital Management Ltd. MI now owns 337,954 shares of the semiconductor manufacturer’s stock valued at $78,351,000 after acquiring an additional 298,819 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Up 0.2 %

Shares of Broadcom stock opened at $208.26 on Friday. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88. The stock has a market capitalization of $979.23 billion, a P/E ratio of 169.87, a PEG ratio of 2.29 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a 50 day moving average price of $182.95 and a two-hundred day moving average price of $197.33.

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

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.13%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 800 shares of the stock in a transaction on Monday, April 14th. The shares were 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 directly owns 25,380 shares of the company’s stock, valued at $4,695,300. This represents a 3.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 30,000 shares of the business’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 transaction, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock valued at $131,065,542 in the last quarter. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on AVGO. Benchmark reiterated a “buy” rating and issued a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Mizuho cut their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Citigroup decreased their target price on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Bank of America reduced their target price on Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Finally, KeyCorp boosted their price objective on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Three 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $229.48.

About Broadcom

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.