Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Keel Point LLC

Keel Point LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,695 shares of the semiconductor manufacturer's stock after purchasing an additional 2,808 shares during the quarter. Keel Point LLC's holdings in Broadcom were worth $4,102,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Howard Capital Management Group LLC boosted its position in Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock worth $524,000 after acquiring an additional 2,908 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock valued at $1,238,966,000 after acquiring an additional 6,540,800 shares during the period. Invst LLC raised its stake in shares of Broadcom by 928.6% in the 3rd quarter. Invst LLC now owns 3,024 shares of the semiconductor manufacturer's stock valued at $522,000 after acquiring an additional 2,730 shares during the period. McIlrath & Eck LLC raised its stake in shares of Broadcom by 793.3% in the 3rd quarter. McIlrath & Eck LLC now owns 402 shares of the semiconductor manufacturer's stock valued at $69,000 after acquiring an additional 357 shares during the period. Finally, Passumpsic Savings Bank raised its stake in shares of Broadcom by 900.9% in the 3rd quarter. Passumpsic Savings Bank now owns 15,904 shares of the semiconductor manufacturer's stock valued at $2,743,000 after acquiring an additional 14,315 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling

In other Broadcom 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 value of $5,839,500.00. Following the sale, the insider now owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares in the company, valued at $4,695,300. This 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 over the last quarter. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AVGO shares. Morgan Stanley boosted their price target on shares of Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Rosenblatt Securities restated a "buy" rating and issued a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Citigroup dropped their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a report on Friday, April 11th. William Blair restated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Finally, Truist Financial lifted their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $229.48.

Broadcom Stock Performance

NASDAQ AVGO opened at $192.47 on Thursday. 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 Inc. has a 52-week low of $122.33 and a 52-week high of $251.88. The business's 50-day moving average price is $182.40 and its 200 day moving average price is $196.18. The firm has a market cap of $904.98 billion, a P/E ratio of 156.99, a P/E/G ratio of 2.29 and a beta of 1.05.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued 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 is currently 113.46%.

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.

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