Cetera Investment Advisers Sells 21,863 Shares of Broadcom Inc. (NASDAQ:AVGO)

Cetera Investment Advisers lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,050,236 shares of the semiconductor manufacturer's stock after selling 21,863 shares during the period. Broadcom accounts for approximately 0.5% of Cetera Investment Advisers' holdings, making the stock its 26th biggest position. Cetera Investment Advisers' holdings in Broadcom were worth $243,487,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. Bank of America dropped their price target on Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Citigroup lowered their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Rosenblatt Securities reiterated a "buy" rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Finally, Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given 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

AVGO stock opened at $200.72 on Tuesday. Broadcom Inc. has a one year low of $127.51 and a one year high of $251.88. The firm has a market cap of $943.78 billion, a price-to-earnings ratio of 163.72, a PEG ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a 50-day simple moving average of $181.97 and a two-hundred day simple moving average of $196.86.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.18%. Broadcom's payout ratio is 113.46%.

Broadcom announced that its board has approved a stock buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was 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 owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This trade represents a 3.06 % 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 the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction dated 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 owns 490,956 shares in the company, valued at approximately $95,564,585.40. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock worth $131,065,542 over the last three months. Corporate insiders own 2.00% of the company's stock.

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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