BIP Alliance LLC Invests $469,000 in Broadcom Inc. (NASDAQ:AVGO)

BIP Alliance LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,025 shares of the semiconductor manufacturer's stock, valued at approximately $469,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Regent Peak Wealth Advisors LLC boosted its stake in shares of Broadcom by 3.0% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 13,309 shares of the semiconductor manufacturer's stock valued at $3,086,000 after acquiring an additional 386 shares during the last quarter. Tallon Kerry Patrick acquired a new stake in shares of Broadcom during the fourth quarter valued at $357,000. Capital & Planning LLC lifted its position in Broadcom by 15.3% during the fourth quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock worth $969,000 after buying an additional 554 shares during the period. LaFleur & Godfrey LLC raised its holdings in Broadcom by 18.7% in the fourth quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock valued at $18,145,000 after buying an additional 12,345 shares during the period. Finally, Harbor Investment Advisory LLC raised its holdings in shares of Broadcom by 3.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 25,523 shares of the semiconductor manufacturer's stock valued at $5,917,000 after buying an additional 733 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AVGO. Truist Financial lifted their target price on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Morgan Stanley boosted their price target on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Finally, Mizuho reduced their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Three investment 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $229.48.

Insider Transactions at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction 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 transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total value of $184,152.00. Following the completion of the sale, the director now owns 26,182 shares of the company's stock, valued at $6,026,834.58. This represents a 2.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 720,576 shares of company stock valued at $131,249,694. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Broadcom stock traded up $6.53 during mid-day trading on Tuesday, hitting $235.25. 6,425,148 shares of the company's stock traded hands, compared to its average volume of 31,011,975. The firm has a 50 day moving average price of $191.49 and a 200 day moving average price of $201.86. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.11 trillion, a PE ratio of 192.00, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio is presently 113.46%.

Broadcom announced that its board has approved a stock buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Broadcom 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.