Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Circle Wealth Management LLC

Circle Wealth Management LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 30.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,410 shares of the semiconductor manufacturer's stock after buying an additional 4,587 shares during the period. Circle Wealth Management LLC's holdings in Broadcom were worth $4,500,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canton Hathaway LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom in the 4th quarter valued at $26,000. Sellwood Investment Partners LLC acquired a new stake in shares of Broadcom in the 4th quarter worth $32,000. Bellevue Asset Management LLC purchased a new position in shares of Broadcom during the 4th quarter worth $33,000. Finally, Synergy Investment Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at about $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on AVGO. Truist Financial increased their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Benchmark reiterated a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. KeyCorp upped their price target on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Mizuho cut their price objective on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $229.48.

Broadcom Stock Up 0.2 %

Shares of Broadcom stock traded up $0.49 during trading on Friday, hitting $208.26. 13,277,754 shares of the stock were exchanged, compared to its average volume of 31,201,218. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm's 50-day moving average price is $182.95 and its 200 day moving average price is $197.33. The stock has a market cap of $979.23 billion, a price-to-earnings ratio of 169.87, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 yield of 1.13%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is 113.46%.

Broadcom declared that its board has initiated a share repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other news, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction 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 sale, the director now owns 25,380 shares in the company, valued at $4,695,300. This represents a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is currently owned by insiders.

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.