Benjamin Edwards Inc. Has $65.50 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Benjamin Edwards Inc. raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 282,475 shares of the semiconductor manufacturer's stock after purchasing an additional 9,161 shares during the period. Broadcom accounts for 0.9% of Benjamin Edwards Inc.'s portfolio, making the stock its 15th largest holding. Benjamin Edwards Inc.'s holdings in Broadcom were worth $65,503,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Broadcom by 1.4% in the 4th 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 stake in shares of Broadcom by 3.0% in the fourth 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 during the period. FMR LLC grew its position in Broadcom by 3.2% during the fourth 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 in the last quarter. Norges Bank bought a new position in Broadcom during the fourth quarter valued at about $16,893,010,000. Finally, Northern Trust Corp raised its holdings in Broadcom by 12.0% in the 4th 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 in the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 800 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the transaction, the director now owns 25,380 shares of the company's stock, valued at $4,695,300. This represents a 3.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the sale, the insider now owns 465,956 shares in the company, valued at $83,872,080. This trade represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.

Broadcom Stock Up 2.4 %

NASDAQ AVGO traded up $4.72 during trading hours on Wednesday, reaching $204.81. 18,916,893 shares of the company's stock were exchanged, compared to its average volume of 31,098,887. 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 company has a market capitalization of $963.01 billion, a price-to-earnings ratio of 167.06, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The company's 50-day moving average is $182.01 and its two-hundred day moving average is $196.89. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88.

Broadcom announced that its Board of Directors has approved a stock 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 repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.15%. Broadcom's dividend payout ratio is currently 113.46%.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent research reports. KeyCorp upped their target price on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Rosenblatt Securities restated a "buy" rating and set a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, Benchmark reissued a "buy" rating and issued a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Three investment 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. According to MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $229.48.

About Broadcom

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.