Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Burns J W & Co. Inc. NY

Burns J W & Co. Inc. NY boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 19.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,955 shares of the semiconductor manufacturer's stock after acquiring an additional 1,775 shares during the period. Burns J W & Co. Inc. NY's holdings in Broadcom were worth $1,834,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Legacy Financial Strategies LLC grew its stake in Broadcom by 23.1% in the 1st quarter. Legacy Financial Strategies LLC now owns 2,013 shares of the semiconductor manufacturer's stock valued at $337,000 after acquiring an additional 378 shares during the last quarter. Doliver Advisors LP lifted its holdings in Broadcom by 0.7% in the 1st quarter. Doliver Advisors LP now owns 13,533 shares of the semiconductor manufacturer's stock valued at $2,266,000 after purchasing an additional 93 shares in the last quarter. Retirement Wealth Solutions LLC lifted its holdings in Broadcom by 245.2% in the 1st quarter. Retirement Wealth Solutions LLC now owns 573 shares of the semiconductor manufacturer's stock valued at $96,000 after purchasing an additional 407 shares in the last quarter. Private Client Services LLC lifted its holdings in Broadcom by 28.8% in the 1st quarter. Private Client Services LLC now owns 4,209 shares of the semiconductor manufacturer's stock valued at $705,000 after purchasing an additional 940 shares in the last quarter. Finally, Welch Group LLC lifted its holdings in Broadcom by 68.8% in the 1st quarter. Welch Group LLC now owns 28,464 shares of the semiconductor manufacturer's stock valued at $4,814,000 after purchasing an additional 11,601 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on Wednesday, March 26th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now owns 465,956 shares in the company, valued at $83,872,080. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 over the last 90 days. Company insiders own 2.00% of the company's stock.

Broadcom Trading Down 1.0%

NASDAQ AVGO traded down $2.47 during mid-day trading on Friday, hitting $239.50. The company's stock had a trading volume of 27,045,094 shares, compared to its average volume of 30,873,614. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $251.88. The stock's fifty day simple moving average is $195.38 and its two-hundred day simple moving average is $203.43. 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 firm has a market capitalization of $1.13 trillion, a P/E ratio of 195.35, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04.

Broadcom announced that its board has authorized a share repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date 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 is currently 113.46%.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Bank of America reduced their target price on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Oppenheimer upped their target price on shares of Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday. Benchmark reiterated a "buy" rating and set a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.