Broadcom Inc. (NASDAQ:AVGO) Shares Bought by JT Stratford LLC

JT Stratford LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,505 shares of the semiconductor manufacturer’s stock after acquiring an additional 467 shares during the quarter. JT Stratford LLC’s holdings in Broadcom were worth $1,740,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of AVGO. Canton Hathaway LLC purchased a new stake in Broadcom during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the fourth quarter valued at about $26,000. Sellwood Investment Partners LLC purchased a new stake in Broadcom during the fourth quarter valued at about $32,000. Bellevue Asset Management LLC purchased a new stake in Broadcom during the fourth quarter valued at about $33,000. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom during the fourth quarter valued at about $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVGO has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Truist Financial increased their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. KeyCorp increased their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Finally, Mizuho reduced their price target 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $229.48.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction 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 completion of the transaction, the insider now directly owns 465,956 shares of the company’s stock, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 720,576 shares of company stock valued at $131,249,694 over the last ninety days. 2.00% of the stock is owned by company insiders.

Broadcom Stock Down 0.8%

Shares of AVGO stock opened at $229.73 on Thursday. The stock has a market cap of $1.08 trillion, a P/E ratio of 187.38, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88. The stock has a fifty day moving average price of $189.30 and a 200 day moving average price of $200.47. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors 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 annualized dividend and a yield of 1.03%. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

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

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.