IronOak Wealth LLC. Invests $3.04 Million in Broadcom Inc. (NASDAQ:AVGO)

IronOak Wealth LLC. bought a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 13,092 shares of the semiconductor manufacturer's stock, valued at approximately $3,035,000. Broadcom accounts for about 3.4% of IronOak Wealth LLC.'s holdings, making the stock its 9th largest holding.

Other hedge funds also recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after buying an additional 18,845 shares during the period. Wolff Financial Management LLC purchased a new stake in Broadcom in the 4th quarter worth $244,000. Motive Wealth Advisors lifted its stake in Broadcom by 1,076.5% in the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock worth $1,066,000 after purchasing an additional 4,209 shares in the last quarter. Nebula Research & Development LLC lifted its stake in Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after purchasing an additional 14,399 shares in the last quarter. Finally, TTP Investments Inc. lifted its stake in Broadcom by 71.7% in the 4th quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer's stock worth $14,061,000 after purchasing an additional 25,330 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research note 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. Bank of America decreased their target price 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. Finally, Barclays decreased their target price on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Three 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. According to MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

Insider Activity

In other news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justine Page sold 800 shares of the 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 transaction, the director now 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 720,576 shares of company stock worth $131,249,694. Corporate insiders own 2.00% of the company's stock.

Broadcom Trading Up 3.0%

AVGO stock traded up $6.93 during mid-day trading on Tuesday, reaching $235.65. The company had a trading volume of 17,906,364 shares, compared to its average volume of 31,055,317. 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 market capitalization of $1.11 trillion, a PE ratio of 192.21, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The firm has a 50 day moving average of $192.39 and a 200 day moving average of $202.10. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88.

Broadcom Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. Broadcom's dividend payout ratio is presently 113.46%.

Broadcom announced that its Board of Directors has authorized a stock buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.