Garde Capital Inc. Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

Garde Capital Inc. lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,377 shares of the semiconductor manufacturer's stock after acquiring an additional 1,257 shares during the period. Garde Capital Inc.'s holdings in Broadcom were worth $2,869,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Instrumental Wealth LLC raised its holdings in shares of Broadcom by 5.6% in the 4th quarter. Instrumental Wealth LLC now owns 1,372 shares of the semiconductor manufacturer's stock worth $300,000 after purchasing an additional 73 shares during the period. Hall Capital Management Co. Inc. purchased a new position in Broadcom in the fourth quarter worth $918,000. Liberty Square Wealth Partners LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $466,000. Cypress Asset Management Inc. TX purchased a new position in shares of Broadcom in the fourth quarter worth about $15,946,000. Finally, Ameriflex Group Inc. purchased a new stake in Broadcom during the 4th quarter valued at $3,626,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 0.7%

Shares of AVGO traded up $1.70 during mid-day trading on Thursday, reaching $241.13. The company had a trading volume of 12,450,026 shares, compared to its average volume of 30,973,277. The company has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 196.55, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The firm has a 50-day moving average price of $193.34 and a 200 day moving average price of $202.36. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88. 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 Dividend Announcement

The firm also recently declared 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. 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 presently 113.46%.

Broadcom declared that its Board of Directors has approved a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have issued reports on AVGO shares. KeyCorp lifted their price objective on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Citigroup cut their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a report on Friday, April 11th. Benchmark restated a "buy" rating and issued a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. Finally, Morgan Stanley raised their price objective on Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $234.15.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the business'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 completion of the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 720,576 shares of company stock valued at $131,249,694. Company insiders own 2.00% of the company's stock.

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.