Breakthru Advisory Services LLC Takes Position in Broadcom Inc. (NASDAQ:AVGO)

Breakthru Advisory Services LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,490 shares of the semiconductor manufacturer's stock, valued at approximately $809,000. Broadcom makes up approximately 0.7% of Breakthru Advisory Services LLC's investment portfolio, making the stock its 20th largest position.

Several other large investors also recently made changes to their positions in AVGO. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after purchasing an additional 18,845 shares during the period. Wolff Financial Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at $244,000. Motive Wealth Advisors raised its stake in shares of Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock valued at $1,066,000 after purchasing an additional 4,209 shares in the last quarter. Nebula Research & Development LLC boosted its stake in Broadcom by 1,100.8% during the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after buying an additional 14,399 shares in the last quarter. Finally, TTP Investments Inc. boosted its stake in Broadcom by 71.7% during the fourth quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer's stock worth $14,061,000 after buying an additional 25,330 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 0.3%

Shares of NASDAQ AVGO opened at $230.53 on Friday. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88. The firm's 50-day simple moving average is $190.02 and its 200 day simple moving average is $200.90. 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 $1.08 trillion, a price-to-earnings ratio of 188.04, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04.

Broadcom declared that its Board of Directors has initiated a stock repurchase plan on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 1.02%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio is presently 113.46%.

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This represents a 3.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now owns 465,956 shares in the company, valued at $83,872,080. The trade was a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 720,576 shares of company stock worth $131,249,694. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of recent research reports. Rosenblatt Securities restated a "buy" rating and issued a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. 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. Truist Financial increased their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Benchmark reaffirmed a "buy" rating and set a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Mizuho decreased their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $229.48.

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.

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