LVW Advisors LLC Has $5.56 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

LVW Advisors LLC lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,189 shares of the semiconductor manufacturer's stock after selling 1,936 shares during the quarter. Broadcom makes up about 0.7% of LVW Advisors LLC's investment portfolio, making the stock its 25th largest position. LVW Advisors LLC's holdings in Broadcom were worth $5,557,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after acquiring an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC grew its holdings in Broadcom by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock worth $23,647,209,000 after acquiring an additional 3,018,294 shares during the period. FMR LLC raised its position in shares of Broadcom by 3.2% during the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock valued at $21,624,718,000 after acquiring an additional 2,873,809 shares during the last quarter. Norges Bank acquired a new position in Broadcom in the fourth quarter valued at about $16,893,010,000. Finally, Northern Trust Corp boosted its stake in Broadcom by 12.0% during the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after acquiring an additional 5,258,925 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent analyst reports. Bank of America reduced their target price on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Susquehanna upped their target price on Broadcom from $250.00 to $280.00 and gave the stock a "positive" rating in a report on Thursday, May 29th. Citigroup raised their target price on shares of Broadcom from $210.00 to $276.00 and gave the company a "buy" rating in a research note on Tuesday. William Blair reiterated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Mizuho boosted their price target on Broadcom from $250.00 to $300.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Three investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $241.31.

Broadcom Price Performance

NASDAQ AVGO traded up $8.14 during trading on Tuesday, hitting $256.85. 30,301,799 shares of the company's stock were exchanged, compared to its average volume of 30,825,078. The company has a market cap of $1.21 trillion, a PE ratio of 209.50, a P/E/G ratio of 2.29 and a beta of 1.04. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $257.81. The stock's 50 day moving average price is $196.77 and its two-hundred day moving average price is $204.25.

Broadcom Dividend Announcement

The business 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 was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.92%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Broadcom announced that its Board of Directors has approved a stock repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In other Broadcom 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 completion of the sale, the insider now owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of the business's 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. In the last ninety days, insiders sold 720,576 shares of company stock worth $131,249,694. Insiders own 2.00% of the company's stock.

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.