Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Raised by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP raised its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 406.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,045 shares of the semiconductor manufacturer's stock after purchasing an additional 20,103 shares during the period. Broadcom makes up approximately 1.0% of Occudo Quantitative Strategies LP's holdings, making the stock its 4th largest holding. Occudo Quantitative Strategies LP's holdings in Broadcom were worth $5,806,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AVGO. Canton Hathaway LLC purchased a new position in shares of Broadcom in the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the fourth quarter worth about $26,000. Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the fourth quarter worth about $32,000. Bellevue Asset Management LLC purchased a new position in shares of Broadcom in the fourth quarter worth about $33,000. Finally, Synergy Investment Management LLC purchased a new position in shares of Broadcom in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This represents a 1.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction 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 completion of the sale, the insider now owns 490,956 shares of the company's stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 719,776 shares of company stock valued at $131,065,542. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

AVGO stock opened at $221.58 on Tuesday. The stock has a market capitalization of $1.04 trillion, a PE ratio of 180.74, 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. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock's 50 day simple moving average is $183.55 and its 200 day simple moving average is $198.02.

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

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.07%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Analyst Ratings Changes

Several analysts recently issued reports on AVGO shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Citigroup cut their target price on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Truist Financial raised their target price on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Bank of America cut their target price on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.

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