State of Wyoming Boosts Position in Broadcom Inc. (NASDAQ:AVGO)

State of Wyoming boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 103.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,152 shares of the semiconductor manufacturer's stock after purchasing an additional 4,656 shares during the quarter. Broadcom makes up approximately 0.3% of State of Wyoming's investment portfolio, making the stock its 26th largest holding. State of Wyoming's holdings in Broadcom were worth $2,122,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new position in shares of Broadcom during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom during the fourth quarter valued at about $26,000. Sellwood Investment Partners LLC acquired a new position in Broadcom in the 4th quarter worth approximately $32,000. Bellevue Asset Management LLC acquired a new position in Broadcom in the 4th quarter worth approximately $33,000. Finally, Synergy Investment Management LLC acquired a new position in Broadcom in the 4th quarter worth approximately $35,000. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now directly owns 465,956 shares in the company, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock valued at $131,249,694 over the last ninety days. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

Broadcom stock traded up $1.05 during trading on Tuesday, reaching $231.68. The company had a trading volume of 11,749,421 shares, compared to its average volume of 31,130,436. The firm's 50-day simple moving average is $187.81 and its 200 day simple moving average is $200.05. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $251.88. The firm has a market capitalization of $1.09 trillion, a PE ratio of 188.97, a price-to-earnings-growth 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.

Broadcom announced that its Board of Directors has initiated a stock repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The company also recently declared 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 1.02%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio is presently 113.46%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AVGO shares. KeyCorp increased their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a report 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 report on Friday, March 7th. Morgan Stanley increased their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Citigroup cut their price target 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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.