Elyxium Wealth LLC Trims Position in Broadcom Inc. (NASDAQ:AVGO)

Elyxium Wealth LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 79.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,022 shares of the semiconductor manufacturer's stock after selling 11,383 shares during the period. Elyxium Wealth LLC's holdings in Broadcom were worth $701,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the 4th quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom in the 4th quarter worth about $26,000. Sellwood Investment Partners LLC bought a new stake in Broadcom in the 4th quarter worth about $32,000. Bellevue Asset Management LLC bought a new stake in Broadcom in the 4th quarter worth about $33,000. Finally, Synergy Investment Management LLC bought a new stake in Broadcom in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Trading Up 5.0%

NASDAQ:AVGO traded up $11.00 during trading hours on Tuesday, reaching $232.58. The company's stock had a trading volume of 19,566,883 shares, compared to its average volume of 31,192,981. The firm has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 189.71, a PEG ratio of 2.29 and a beta of 1.04. The firm has a 50-day simple moving average of $183.55 and a 200-day simple moving average of $198.02. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $251.88. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 1.01%. The ex-dividend date was Thursday, March 20th. Broadcom's payout ratio is 113.46%.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on AVGO shares. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Citigroup reduced their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Mizuho reduced their target price on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Finally, KeyCorp increased their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Three research 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. According to MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and a consensus target price of $229.48.

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of the business'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 transaction of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction that occurred 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 directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. The trade was a 5.76% 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 valued at $131,065,542. Corporate insiders own 2.00% of the company's stock.

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.