Brucke Financial Inc. Purchases New Position in Broadcom Inc. (NASDAQ:AVGO)

Brucke Financial Inc. bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,720 shares of the semiconductor manufacturer's stock, valued at approximately $1,487,000. Broadcom comprises 1.3% of Brucke Financial Inc.'s investment portfolio, making the stock its 19th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in AVGO. Canton Hathaway LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom in the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Broadcom in the 4th quarter valued at $30,000. Finally, Sellwood Investment Partners LLC bought a new position in shares of Broadcom in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Performance

Broadcom stock traded up $2.08 during trading on Thursday, hitting $241.51. The stock had a trading volume of 13,370,832 shares, compared to its average volume of 30,976,203. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock's 50 day moving average is $193.34 and its two-hundred day moving average is $202.36. The stock has a market cap 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.

Broadcom announced that its Board of Directors has approved a stock buyback program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes 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 of directors believes its stock is undervalued.

Broadcom Dividend Announcement

The company 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. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 0.98%. Broadcom's payout ratio is 113.46%.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction on 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 transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 720,576 shares of company stock worth $131,249,694. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Bank of America cut their target price on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Truist Financial lifted their target price on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Barclays dropped their price objective on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley boosted their price objective on Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Three 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $236.27.

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.