Brooklyn FI LLC Purchases Shares of 15,360 Broadcom Inc. (NASDAQ:AVGO)

Brooklyn FI LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,360 shares of the semiconductor manufacturer's stock, valued at approximately $3,561,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Tallon Kerry Patrick purchased a new stake in Broadcom during the 4th quarter worth approximately $357,000. Capital & Planning LLC increased its holdings in Broadcom by 15.3% during the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock worth $969,000 after purchasing an additional 554 shares during the last quarter. LaFleur & Godfrey LLC increased its holdings in Broadcom by 18.7% during the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock worth $18,145,000 after purchasing an additional 12,345 shares during the last quarter. First PREMIER Bank increased its holdings in Broadcom by 117.9% during the 4th quarter. First PREMIER Bank now owns 850 shares of the semiconductor manufacturer's stock worth $197,000 after purchasing an additional 460 shares during the last quarter. Finally, D.B. Root & Company LLC increased its holdings in Broadcom by 3.6% during the 4th quarter. D.B. Root & Company LLC now owns 5,525 shares of the semiconductor manufacturer's stock worth $1,281,000 after purchasing an additional 191 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Up 0.8%

Shares of Broadcom stock traded up $1.98 on Thursday, reaching $241.41. 13,370,832 shares of the company were exchanged, compared to its average volume of 30,976,203. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $251.88. The firm has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 196.91, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a fifty day moving average price of $193.34 and a 200-day moving average price of $202.36.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

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

Analyst Ratings Changes

AVGO has been the subject of a number of research analyst reports. Redburn Atlantic began coverage on Broadcom in a report on Wednesday. They issued a "buy" rating and a $301.00 price target for the company. William Blair restated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. 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. Finally, Benchmark reiterated a "buy" rating and set a $255.00 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-six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $236.27.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction that occurred on 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 transaction, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the director now directly owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is currently owned by company insiders.

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.