Bellwether Advisors LLC Increases Position in Broadcom Inc. (NASDAQ:AVGO)

Bellwether Advisors LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 99,736 shares of the semiconductor manufacturer's stock after purchasing an additional 9,871 shares during the quarter. Broadcom comprises approximately 4.1% of Bellwether Advisors LLC's holdings, making the stock its 5th largest holding. Bellwether Advisors LLC's holdings in Broadcom were worth $23,123,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent research reports. Barclays reduced their price objective on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. KeyCorp increased their target price on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Mizuho cut their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Finally, Bank of America reduced their target price on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and an average target price of $229.48.

Broadcom Stock Up 0.7 %

Shares of NASDAQ:AVGO traded up $1.30 during trading on Wednesday, reaching $192.47. 22,283,051 shares of the company traded hands, compared to its average volume of 31,263,255. The firm has a fifty day simple moving average of $182.92 and a 200 day simple moving average of $196.21. The firm has a market cap of $904.98 billion, a P/E ratio of 156.99, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 1-year low of $122.33 and a 1-year high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

The business 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 1.23%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is currently 113.46%.

Broadcom declared that its board has authorized a share repurchase plan 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 plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 800 shares of the firm's stock in a transaction 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 transaction, the director now owns 25,380 shares in the company, valued at approximately $4,695,300. This trade represents a 3.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction on Monday, March 24th. The shares were 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 in the company, valued at $95,564,585.40. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 719,776 shares of company stock valued at $131,065,542 in the last quarter. Company insiders own 2.00% of the company's stock.

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.