2,506 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Milestone Asset Management Group LLC

Milestone Asset Management Group LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,506 shares of the semiconductor manufacturer's stock, valued at approximately $581,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fire Capital Management LLC bought a new position in Broadcom during the 4th quarter worth about $1,490,000. Mascagni Wealth Management Inc. acquired a new stake in Broadcom during the 4th quarter valued at approximately $823,000. Fairtree Asset Management Pty Ltd acquired a new stake in Broadcom during the 4th quarter valued at approximately $766,000. M1 Capital Management LLC acquired a new stake in Broadcom during the 4th quarter valued at approximately $646,000. Finally, DSG Capital Advisors LLC acquired a new stake in Broadcom during the 4th quarter valued at approximately $24,765,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justine Page sold 800 shares of the company's 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 sale, the director now owns 25,380 shares in the company, valued at $4,695,300. The trade was a 3.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Down 1.0%

Shares of NASDAQ AVGO traded down $2.47 during trading on Friday, reaching $239.50. The company had a trading volume of 27,045,094 shares, compared to its average volume of 31,042,717. The stock has a market cap of $1.13 trillion, a P/E ratio of 195.35, a PEG ratio of 2.29 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company's fifty day moving average price is $194.36 and its 200-day moving average price is $202.79. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88.

Broadcom announced that its Board of Directors has authorized a stock repurchase program on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's payout ratio is currently 113.46%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. Redburn Atlantic initiated coverage on shares of Broadcom in a report on Wednesday. They set a "buy" rating and a $301.00 target price for the company. Morgan Stanley lifted their target price on shares of Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Truist Financial lifted their target price on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a report on Friday, March 7th. Barclays cut their target price on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $238.77.

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.