Broadcom Inc. (NASDAQ:AVGO) Stock Position Lifted by Centaurus Financial Inc.

Centaurus Financial Inc. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 91,545 shares of the semiconductor manufacturer's stock after buying an additional 8,367 shares during the period. Broadcom accounts for approximately 1.3% of Centaurus Financial Inc.'s holdings, making the stock its 12th biggest position. Centaurus Financial Inc.'s holdings in Broadcom were worth $21,224,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AVGO. Wealthedge Investment Advisors LLC bought a new position in shares of Broadcom in the 4th quarter valued at about $3,595,000. Anchor Pointe Wealth Management LLC bought a new stake in Broadcom in the fourth quarter worth about $494,000. Capstone Triton Financial Group LLC lifted its stake in Broadcom by 1.5% in the fourth quarter. Capstone Triton Financial Group LLC now owns 5,873 shares of the semiconductor manufacturer's stock worth $1,362,000 after purchasing an additional 87 shares during the last quarter. Mattson Financial Services LLC lifted its stake in Broadcom by 1,110.8% in the fourth quarter. Mattson Financial Services LLC now owns 17,460 shares of the semiconductor manufacturer's stock worth $4,048,000 after purchasing an additional 16,018 shares during the last quarter. Finally, Copia Wealth Management bought a new stake in Broadcom in the fourth quarter worth about $194,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

AVGO stock traded down $2.47 during trading on Friday, reaching $239.50. 27,045,094 shares of the company were exchanged, compared to its average volume of 31,042,485. The company has a market cap of $1.13 trillion, a P/E ratio of 195.35, a PEG ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $251.88. The stock's 50 day moving average price is $195.38 and its 200 day moving average price is $203.23. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom declared that its board has approved a share buyback plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

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

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction that occurred 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 transaction, the director now owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock valued at $131,249,694 over the last quarter. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on AVGO shares. Citigroup decreased their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Oppenheimer raised their target price on shares of Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday. Mizuho raised their target price on shares of Broadcom from $250.00 to $300.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Redburn Atlantic began coverage on shares of Broadcom in a report on Wednesday. They set a "buy" rating and a $301.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.