Albar Capital Partners LLP Takes $5.42 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Albar Capital Partners LLP acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 23,374 shares of the semiconductor manufacturer's stock, valued at approximately $5,419,000. Broadcom makes up 1.3% of Albar Capital Partners LLP's portfolio, making the stock its 18th biggest holding.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Broadcom by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after purchasing an additional 6,573,204 shares during the period. Geode Capital Management LLC increased its position in Broadcom by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after buying an additional 3,018,294 shares in the last quarter. FMR LLC raised its stake in Broadcom by 3.2% during the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after buying an additional 2,873,809 shares during the period. Norges Bank bought a new position in Broadcom in the fourth quarter worth approximately $16,893,010,000. Finally, Northern Trust Corp grew its stake in Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after acquiring an additional 5,258,925 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Performance

AVGO traded up $6.31 during midday trading on Friday, reaching $203.64. The company had a trading volume of 17,749,359 shares, compared to its average volume of 31,215,620. Broadcom Inc. has a 12-month low of $127.51 and a 12-month high of $251.88. The business has a 50-day moving average price of $182.21 and a two-hundred day moving average price of $196.61. The stock has a market cap of $957.50 billion, a PE ratio of 166.10, a P/E/G ratio of 2.29 and a beta of 1.05. 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 declared that its board has authorized a share repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Broadcom Announces Dividend

The company 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 yield of 1.16%. Broadcom's payout ratio is 113.46%.

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 800 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the sale, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. The trade was a 3.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the stock in a transaction dated 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 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. Over the last ninety days, insiders sold 719,776 shares of company stock valued at $131,065,542. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. KeyCorp upped their target price on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Morgan Stanley raised 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. Rosenblatt Securities reiterated a "buy" rating and set a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Benchmark restated a "buy" rating and issued a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Finally, Citigroup cut 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 research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, 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.