Integrated Advisors Network LLC Buys 10,191 Shares of Broadcom Inc. (NASDAQ:AVGO)

Integrated Advisors Network LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 103,419 shares of the semiconductor manufacturer's stock after purchasing an additional 10,191 shares during the period. Broadcom comprises approximately 1.1% of Integrated Advisors Network LLC's portfolio, making the stock its 13th biggest holding. Integrated Advisors Network LLC's holdings in Broadcom were worth $23,977,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Canton Hathaway LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom in the fourth quarter valued at $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom during the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom in the 4th quarter worth $30,000. Finally, Sellwood Investment Partners LLC bought a new position in Broadcom in the 4th quarter worth $32,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO traded up $6.93 during mid-day trading on Tuesday, hitting $235.65. 17,906,364 shares of the company traded hands, compared to its average volume of 31,055,312. Broadcom Inc. has a 1 year low of $128.50 and a 1 year 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. The stock has a 50-day moving average price of $191.49 and a two-hundred day moving average price of $201.86. The stock has a market cap 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.

Broadcom announced that its Board of Directors has approved a share buyback plan 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 plans are typically an indication that the company's management believes its shares are undervalued.

Broadcom Dividend Announcement

The company 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 payout ratio is 113.46%.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the sale, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. The trade was a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was 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 $6,026,834.58. This trade represents a 2.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock valued at $131,249,694 in the last ninety days. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of several research analyst reports. Bank of America reduced their price target on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. KeyCorp lifted their price objective on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Morgan Stanley increased their target price on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. William Blair restated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Mizuho decreased their price objective on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

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.