CWC Advisors LLC. Trims Position in Broadcom Inc. (NASDAQ:AVGO)

CWC Advisors LLC. lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,525 shares of the semiconductor manufacturer's stock after selling 1,443 shares during the quarter. Broadcom comprises about 5.0% of CWC Advisors LLC.'s investment portfolio, making the stock its 2nd biggest position. CWC Advisors LLC.'s holdings in Broadcom were worth $4,990,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AVGO. 111 Capital acquired a new stake in Broadcom in the 4th quarter worth $6,827,000. Thoma Capital Management LLC acquired a new stake in Broadcom in the 4th quarter worth $543,000. Members Wealth LLC acquired a new stake in Broadcom in the 4th quarter worth $670,000. Tableaux LLC acquired a new stake in Broadcom in the 4th quarter worth $253,000. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new stake in Broadcom in the 4th quarter worth $320,919,000. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 1.6%

AVGO traded up $3.78 during midday trading on Wednesday, reaching $239.43. 20,260,131 shares of the company's stock traded hands, compared to its average volume of 31,045,414. The firm has a fifty day moving average of $193.34 and a two-hundred day moving average of $202.36. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 195.30, a P/E/G ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88.

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 paid a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.99%. Broadcom's payout ratio is currently 113.46%.

Broadcom announced that its board has approved a share buyback plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AVGO. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. KeyCorp raised their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Truist Financial raised their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Barclays decreased their target price on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $234.15.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction 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 directly owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the transaction, the director now owns 25,380 shares in the company, valued at approximately $4,695,300. This trade represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 in the last 90 days. Insiders own 2.00% of the company's stock.

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.