Capstone Financial Advisors Inc. Buys Shares of 3,037 Broadcom Inc. (NASDAQ:AVGO)

Capstone Financial Advisors Inc. purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,037 shares of the semiconductor manufacturer's stock, valued at approximately $704,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new stake in Broadcom in the fourth quarter valued at $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $26,000. Sellwood Investment Partners LLC acquired a new stake in Broadcom in the 4th quarter valued at 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 acquired a new position in Broadcom during the fourth quarter worth approximately $35,000. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

Shares of Broadcom stock traded up $1.30 on Wednesday, reaching $192.47. 22,283,051 shares of the stock were exchanged, compared to its average volume of 31,263,255. Broadcom Inc. has a one year low of $122.33 and a one year high of $251.88. The firm has a market cap of $904.98 billion, a PE ratio of 156.99, 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. The firm's 50 day moving average is $182.92 and its 200-day moving average is $196.21.

Broadcom declared that its Board of Directors has approved a share repurchase 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 reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. Broadcom's payout ratio is currently 113.46%.

Insider Activity at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction dated 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 465,956 shares of the company's stock, valued at $83,872,080. This represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock valued at $131,065,542 in the last quarter. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Truist Financial lifted their target price on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Benchmark reiterated a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. KeyCorp increased their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Finally, Bank of America lowered their price target on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $229.48.

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.