Three Seasons Wealth LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Three Seasons Wealth LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,532 shares of the semiconductor manufacturer's stock, valued at approximately $587,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Broadcom by 1.4% in 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 lifted its holdings in shares of Broadcom by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock worth $23,647,209,000 after buying an additional 3,018,294 shares in the last quarter. FMR LLC boosted its position in shares of Broadcom by 3.2% in the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock valued at $21,624,718,000 after acquiring an additional 2,873,809 shares during the period. Norges Bank acquired a new position in shares of Broadcom in the fourth quarter valued at about $16,893,010,000. Finally, Price T Rowe Associates Inc. MD increased its position in Broadcom by 46.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock worth $11,018,089,000 after acquiring an additional 15,171,849 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AVGO shares. William Blair restated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Mizuho reduced their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Bank of America decreased their price target on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. KeyCorp increased their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Finally, Morgan Stanley increased their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $229.48.

Broadcom Stock Up 0.1 %

Shares of NASDAQ AVGO traded up $0.13 during trading on Tuesday, hitting $192.60. 5,071,612 shares of the company traded hands, compared to its average volume of 31,151,124. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The business's fifty day moving average is $183.64 and its 200 day moving average is $196.24. The firm has a market capitalization of $905.59 billion, a price-to-earnings ratio of 157.10, a P/E/G ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a fifty-two week low of $122.33 and a fifty-two week high of $251.88.

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 1.23%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Broadcom announced that its board has initiated a stock buyback program 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In related news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction that occurred on 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 of the company's stock, valued at $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock worth $131,065,542 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

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.