Francis Financial Inc. Buys 2,153 Shares of Broadcom Inc. (NASDAQ:AVGO)

Francis Financial Inc. grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 102.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,252 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,153 shares during the quarter. Francis Financial Inc.’s holdings in Broadcom were worth $986,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Canton Hathaway LLC bought a new position in Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at about $26,000. Sellwood Investment Partners LLC bought a new position in Broadcom during the fourth quarter worth about $32,000. Bellevue Asset Management LLC bought a new position in Broadcom during the fourth quarter worth about $33,000. Finally, Synergy Investment Management LLC bought a new stake in Broadcom in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of the company’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the sale, the insider now directly owns 465,956 shares of the company’s stock, valued at approximately $83,872,080. This represents a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction on 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 transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 719,776 shares of company stock worth $131,065,542 over the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.2 %

Shares of NASDAQ AVGO opened at $208.26 on Friday. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market cap of $979.23 billion, a PE ratio of 169.87, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The company has a 50 day simple moving average of $182.95 and a 200 day simple moving average of $197.33.

Broadcom declared that its Board of Directors has initiated a share repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Broadcom Announces Dividend

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. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.13%. Broadcom’s dividend payout ratio is 113.46%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AVGO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. William Blair restated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Benchmark reiterated a “buy” rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Truist Financial raised their price target on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Finally, Mizuho cut their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company 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.