LifeWealth Investments LLC Invests $781,000 in Broadcom Inc. (NASDAQ:AVGO)

LifeWealth Investments LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,369 shares of the semiconductor manufacturer's stock, valued at approximately $781,000.

A number of other hedge funds also recently made changes to their positions in AVGO. Canton Hathaway LLC purchased a new position in Broadcom in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom in the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom in the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. purchased a new position in Broadcom in the 4th quarter worth approximately $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in Broadcom in the 4th quarter worth approximately $32,000. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. This represents a 1.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. This trade represents a 5.09% 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 quarter. 2.00% of the stock is owned by insiders.

Broadcom Trading Up 0.7%

Broadcom stock traded up $1.77 during mid-day trading on Thursday, hitting $241.20. The company's stock had a trading volume of 12,034,954 shares, compared to its average volume of 28,933,789. The company has a 50 day moving average of $193.34 and a 200-day moving average of $202.36. The stock has a market cap of $1.13 trillion, a PE ratio of 196.74, 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 quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88.

Broadcom declared that its board has initiated a share repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given 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 (DPR) is presently 113.46%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. Redburn Atlantic initiated coverage on Broadcom in a report on Wednesday. They issued a "buy" rating and a $301.00 price target on the stock. William Blair reissued an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Truist Financial upped their price objective on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Benchmark reaffirmed a "buy" rating and set a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Morgan Stanley upped their price objective on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.15.

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.