Evergreen Wealth Solutions LLC Takes $757,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Evergreen Wealth Solutions LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,266 shares of the semiconductor manufacturer's stock, valued at approximately $757,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. KFA Private Wealth Group LLC increased its position in shares of Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock valued at $407,000 after purchasing an additional 42 shares during the last quarter. Dakota Community Bank & Trust NA raised its position in Broadcom by 2.7% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock worth $391,000 after acquiring an additional 45 shares during the period. Bryant Woods Investment Advisors LLC boosted its stake in shares of Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock worth $305,000 after acquiring an additional 45 shares during the last quarter. Marest Capital LLC grew its position in shares of Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock valued at $1,052,000 after acquiring an additional 46 shares during the period. Finally, Defined Wealth Management LLC grew its position in shares of Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock valued at $2,947,000 after acquiring an additional 47 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Up 3.2 %

Shares of NASDAQ AVGO traded up $6.31 during trading hours on Friday, hitting $203.64. 17,749,359 shares of the company traded hands, compared to its average volume of 31,190,330. The stock has a market capitalization of $957.50 billion, a price-to-earnings ratio of 166.10, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The company's 50 day moving average price is $182.19 and its 200 day moving average price is $196.28. Broadcom Inc. has a 12 month low of $124.71 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.

Broadcom announced that its board has authorized 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 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 shares are undervalued.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid 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 dividend yield of 1.16%. Broadcom's dividend payout ratio is presently 113.46%.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction dated 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 completion of the transaction, 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 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.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AVGO. Mizuho lowered their target price on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Barclays lowered their price objective on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Benchmark reissued a "buy" rating and issued a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Finally, 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 note on Friday, April 11th. 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 company's stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $229.48.

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.