Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Strategic Wealth Partners Ltd.

Strategic Wealth Partners Ltd. lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 21.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 88,932 shares of the semiconductor manufacturer's stock after acquiring an additional 15,855 shares during the quarter. Broadcom comprises about 1.8% of Strategic Wealth Partners Ltd.'s investment portfolio, making the stock its 8th biggest holding. Strategic Wealth Partners Ltd.'s holdings in Broadcom were worth $20,970,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC lifted its position in shares of Broadcom by 3.0% during the 4th 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. Mason & Associates Inc raised its position in shares of Broadcom by 22.1% during the fourth quarter. Mason & Associates Inc now owns 5,527 shares of the semiconductor manufacturer's stock worth $1,281,000 after purchasing an additional 1,000 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Broadcom by 1.1% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 85,250 shares of the semiconductor manufacturer's stock valued at $19,764,000 after purchasing an additional 945 shares during the last quarter. Guardian Financial Partners LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $340,000. Finally, Sanders Morris Harris LLC increased its stake in Broadcom by 2.5% in the 4th quarter. Sanders Morris Harris LLC now owns 20,850 shares of the semiconductor manufacturer's stock worth $4,839,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Down 1.7%

Broadcom stock opened at $228.61 on Friday. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88. The company's fifty day moving average price is $187.08 and its two-hundred day moving average price is $199.41. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 186.47, a PEG ratio of 2.29 and a beta of 1.04.

Broadcom announced that its board has authorized a stock buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors 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 1.03%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's payout ratio is 113.46%.

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. This represents a 1.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Justine Page sold 800 shares of the firm'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 completion of the sale, the director now owns 25,380 shares in the company, valued at $4,695,300. This represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays decreased their target price on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley raised their price objective on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Citigroup decreased their target price on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus 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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