Colonial Trust Co SC Acquires 1,285 Shares of Broadcom Inc. (NASDAQ:AVGO)

Colonial Trust Co SC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,085 shares of the semiconductor manufacturer's stock after buying an additional 1,285 shares during the quarter. Colonial Trust Co SC's holdings in Broadcom were worth $2,338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after acquiring an additional 18,845 shares during the last quarter. Wolff Financial Management LLC acquired a new position in Broadcom during the fourth quarter valued at approximately $244,000. Motive Wealth Advisors raised its stake in Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock worth $1,066,000 after buying an additional 4,209 shares during the period. Nebula Research & Development LLC increased its stake in Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after purchasing an additional 14,399 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock valued at $1,238,966,000 after buying an additional 6,540,800 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on AVGO. 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 decreased their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, April 11th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. KeyCorp upped their target price on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Finally, Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Three 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

Broadcom Stock Performance

NASDAQ:AVGO opened at $200.09 on Wednesday. The stock's 50 day simple moving average is $182.01 and its two-hundred day simple moving average is $196.89. 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 current ratio of 1.17 and a quick ratio of 1.07. The company has a market cap of $940.81 billion, a price-to-earnings ratio of 163.21, a PEG ratio of 2.29 and a beta of 1.04.

Broadcom Announces Dividend

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 dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is 113.46%.

Broadcom announced that its board has initiated a share repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction dated 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 sale, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 719,776 shares of company stock worth $131,065,542. 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.

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