Heck Capital Advisors LLC Takes $2 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Heck Capital Advisors LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,614 shares of the semiconductor manufacturer's stock, valued at approximately $1,997,000.

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Broadcom during the fourth quarter valued at about $16,893,010,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Broadcom by 46.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock valued at $11,018,089,000 after acquiring an additional 15,171,849 shares in the last quarter. GQG Partners LLC increased its holdings in shares of Broadcom by 200.0% during the fourth quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock valued at $2,367,819,000 after acquiring an additional 6,809,245 shares in the last quarter. Vanguard Group Inc. boosted its position in Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after buying an additional 6,573,204 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Broadcom by 27.4% in the fourth quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer's stock valued at $6,236,011,000 after buying an additional 5,783,988 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AVGO. William Blair reiterated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Mizuho dropped their target price on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. KeyCorp upped their target price on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Finally, Benchmark reiterated a "buy" rating and issued a $255.00 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-five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

Insiders Place Their Bets

In related news, Director Justine Page sold 800 shares of the stock in a transaction that occurred 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 directly owns 25,380 shares in the company, valued at approximately $4,695,300. This represents a 3.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 in the last three months. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

NASDAQ AVGO traded up $6.93 during mid-day trading on Tuesday, hitting $235.65. The stock had a trading volume of 17,906,364 shares, compared to its average volume of 31,055,312. The firm's 50 day moving average is $191.49 and its 200 day moving average is $201.86. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88. 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 stock has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 192.21, a PEG ratio of 2.29 and a beta of 1.04.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

Broadcom announced that its Board of Directors has initiated a share repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Broadcom 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.