Aptus Capital Advisors LLC Sells 711,233 Shares of Broadcom Inc. (NASDAQ:AVGO)

Aptus Capital Advisors LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 68.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 330,054 shares of the semiconductor manufacturer's stock after selling 711,233 shares during the quarter. Broadcom accounts for approximately 0.8% of Aptus Capital Advisors LLC's investment portfolio, making the stock its 29th biggest holding. Aptus Capital Advisors LLC's holdings in Broadcom were worth $76,520,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. KFA Private Wealth Group LLC boosted its position in shares of Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock valued at $407,000 after acquiring an additional 42 shares during the period. Dakota Community Bank & Trust NA lifted its position in Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock worth $391,000 after purchasing an additional 45 shares during the period. Bryant Woods Investment Advisors LLC grew its stake in Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock worth $305,000 after buying an additional 45 shares in the last quarter. Marest Capital LLC increased its holdings in Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock valued at $1,052,000 after buying an additional 46 shares during the period. Finally, Defined Wealth Management LLC raised its position in shares of Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock valued at $2,947,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. KeyCorp increased their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Barclays dropped their price objective on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Truist Financial boosted their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research note on Wednesday. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three 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 Transactions at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction that occurred 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 owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $148,000.00. Following the sale, the director now directly owns 25,380 shares of the company's stock, valued at $4,695,300. This trade represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 719,776 shares of company stock valued at $131,065,542 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $203.64 on Friday. The company's fifty day moving average price is $182.21 and its 200-day moving average price is $196.48. The stock has a market cap of $957.50 billion, a PE ratio of 166.10, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12 month low of $124.71 and a 12 month high of $251.88.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio is 113.46%.

Broadcom declared that its Board of Directors has authorized a stock repurchase plan on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.

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