Hall Capital Management Co. Inc. Purchases Shares of 3,960 Broadcom Inc. (NASDAQ:AVGO)

Hall Capital Management Co. Inc. purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,960 shares of the semiconductor manufacturer's stock, valued at approximately $918,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Canton Hathaway LLC bought a new stake in Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom in the 4th quarter valued at $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom in the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. acquired a new position in Broadcom in the 4th quarter worth $30,000. Finally, Sellwood Investment Partners LLC bought a new position in Broadcom during the 4th quarter worth about $32,000. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 800 shares of the firm'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 trade represents a 3.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 of the company's stock, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Up 0.7%

NASDAQ AVGO traded up $1.78 during trading hours on Thursday, hitting $241.21. 12,450,026 shares of the company were exchanged, compared to its average volume of 30,973,277. The stock 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 stock has a market cap of $1.13 trillion, a PE ratio of 196.55, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

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

Broadcom Dividend Announcement

The company 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 yield of 0.98%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVGO. Bank of America reduced their price target on Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Redburn Atlantic started coverage on Broadcom in a research note on Wednesday. They issued a "buy" rating and a $301.00 price target on the stock. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Mizuho raised their target price on Broadcom from $250.00 to $300.00 and gave the stock an "outperform" rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $234.15.

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.