Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 407.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,252 shares of the semiconductor manufacturer's stock after acquiring an additional 52,403 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Broadcom were worth $15,128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Canton Hathaway LLC acquired a new stake in Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $26,000. Sellwood Investment Partners LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $32,000. Bellevue Asset Management LLC purchased a new position in shares of Broadcom during the 4th quarter worth approximately $33,000. Finally, Synergy Investment Management LLC acquired a new position in shares of Broadcom during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AVGO shares. Barclays reduced their target price on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley upped their target price on Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Bank of America reduced their target price on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Truist Financial upped their target price on Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and an average price target of $229.48.

Insider Buying and Selling at Broadcom

In other news, 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 sale, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 owns 490,956 shares of the company's stock, valued at $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. 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 three months. 2.00% of the stock is owned by company insiders.

Broadcom Trading Up 0.5%

NASDAQ:AVGO opened at $231.68 on Wednesday. The business's 50-day moving average is $188.62 and its two-hundred day moving average is $200.27. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 12 month low of $128.50 and a 12 month 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.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Broadcom declared that its board has approved a share buyback program on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

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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