Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Increased by UP Strategic Wealth Investment Advisors LLC

UP Strategic Wealth Investment Advisors LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 80.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,155 shares of the semiconductor manufacturer's stock after buying an additional 1,403 shares during the period. Broadcom makes up approximately 0.7% of UP Strategic Wealth Investment Advisors LLC's holdings, making the stock its 27th largest position. UP Strategic Wealth Investment Advisors LLC's holdings in Broadcom were worth $731,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of AVGO. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the 4th quarter worth $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom in the fourth quarter valued at about $26,000. Sellwood Investment Partners LLC acquired a new position in Broadcom during the 4th quarter worth approximately $32,000. Bellevue Asset Management LLC purchased a new position in shares of Broadcom during the 4th quarter worth approximately $33,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity

In other news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now directly owns 465,956 shares of the company's stock, valued at approximately $83,872,080. The trade was a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the firm'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 sale, the director now owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 719,776 shares of company stock worth $131,065,542 over the last 90 days. Company insiders own 2.00% of the company's stock.

Broadcom Stock Up 0.1 %

Broadcom stock traded up $0.13 during trading on Tuesday, reaching $192.60. 5,071,612 shares of the company's stock were exchanged, compared to its average volume of 31,151,124. The firm has a market cap of $905.59 billion, a price-to-earnings ratio of 157.10, a PEG 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. Broadcom Inc. has a 52-week low of $122.33 and a 52-week high of $251.88. The company's 50-day moving average is $183.64 and its two-hundred day moving average is $196.24.

Broadcom announced that its Board of Directors has initiated a share repurchase program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.23%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is 113.46%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AVGO shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Morgan Stanley raised their price objective 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 reiterated a "buy" rating and set a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Bank of America lowered their price target on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, William Blair reaffirmed an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $229.48.

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.