Invst LLC Has $717,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Invst LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,091 shares of the semiconductor manufacturer’s stock after buying an additional 67 shares during the period. Invst LLC’s holdings in Broadcom were worth $717,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AVGO shares. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Benchmark reaffirmed a “buy” rating and issued a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. KeyCorp increased their price target on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Finally, Citigroup decreased their price target on Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Three equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.48.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $148,000.00. Following the completion of the transaction, the director now owns 25,380 shares in the company, valued at $4,695,300. This represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 720,576 shares of company stock valued at $131,249,694. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.8%

Shares of Broadcom stock opened at $228.72 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88. The stock has a 50 day moving average price of $190.82 and a two-hundred day moving average price of $201.42. The stock has a market capitalization of $1.08 trillion, a PE ratio of 186.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04.

Broadcom Dividend Announcement

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

Broadcom announced that its Board of Directors has approved a share buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.