Broadcom Inc. (NASDAQ:AVGO) Shares Sold by LVM Capital Management Ltd. MI

LVM Capital Management Ltd. MI decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 17.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,939 shares of the semiconductor manufacturer's stock after selling 59,015 shares during the period. Broadcom comprises 5.2% of LVM Capital Management Ltd. MI's investment portfolio, making the stock its 3rd biggest position. LVM Capital Management Ltd. MI's holdings in Broadcom were worth $46,703,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AVGO. Tallon Kerry Patrick acquired a new position in Broadcom during the fourth quarter worth $357,000. Capital & Planning LLC raised its holdings in Broadcom by 15.3% in the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock valued at $969,000 after acquiring an additional 554 shares during the last quarter. LaFleur & Godfrey LLC increased its stake 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 purchasing an additional 12,345 shares during the last quarter. Brighton Jones LLC increased its stake in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after acquiring an additional 5,322 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Broadcom during the fourth quarter worth approximately $71,312,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity

In related news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the business'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 sale, the director now 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 720,576 shares of company stock valued at $131,249,694. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

NASDAQ:AVGO traded down $2.47 during mid-day trading on Friday, hitting $239.50. The stock had a trading volume of 27,045,094 shares, compared to its average volume of 30,873,614. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 195.35, a P/E/G ratio of 2.29 and a beta of 1.04. The company has a 50 day simple moving average of $195.38 and a 200-day simple moving average of $203.23. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom announced that its Board of Directors has approved a stock buyback program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research reports. Benchmark reiterated a "buy" rating and set a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Mizuho increased their price target on Broadcom from $250.00 to $300.00 and gave the company an "outperform" rating in a report on Wednesday. Citigroup reduced their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a report on Friday, April 11th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Redburn Atlantic started coverage on Broadcom in a research note on Wednesday. They set a "buy" rating and a $301.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $238.77.

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.