Garde Capital Inc. Has $2.87 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Garde Capital Inc. boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,377 shares of the semiconductor manufacturer's stock after purchasing an additional 1,257 shares during the quarter. Garde Capital Inc.'s holdings in Broadcom were worth $2,869,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Tallon Kerry Patrick bought a new stake in shares of Broadcom during the fourth quarter worth approximately $357,000. Capital & Planning LLC lifted its holdings in Broadcom by 15.3% during the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock worth $969,000 after purchasing an additional 554 shares during the last quarter. LaFleur & Godfrey LLC lifted its holdings in Broadcom by 18.7% during the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock worth $18,145,000 after purchasing an additional 12,345 shares during the last quarter. West Branch Capital LLC boosted its stake in Broadcom by 9.8% in the 4th quarter. West Branch Capital LLC now owns 27,913 shares of the semiconductor manufacturer's stock valued at $6,471,000 after purchasing an additional 2,495 shares during the period. Finally, Eagle Wealth Strategies LLC grew its holdings in Broadcom by 2.8% in the 4th quarter. Eagle Wealth Strategies LLC now owns 2,831 shares of the semiconductor manufacturer's stock valued at $656,000 after buying an additional 77 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AVGO shares. Benchmark reissued a "buy" rating and set a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Truist Financial lifted their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Finally, William Blair restated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Broadcom presently has an average rating of "Moderate Buy" and a consensus price target of $229.48.

Broadcom Price Performance

AVGO stock traded up $6.93 during trading on Tuesday, reaching $235.65. 17,906,364 shares of the company were exchanged, compared to its average volume of 31,055,312. The company has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 192.21, 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. The company has a 50-day moving average of $191.49 and a two-hundred day moving average of $201.86. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

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

Insider Activity

In other Broadcom news, Director Justine Page sold 800 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the transaction, the director now owns 26,182 shares in the company, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 30,000 shares of the business'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 transaction of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 720,576 shares of company stock worth $131,249,694. 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.