Naples Global Advisors LLC Has $20.94 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Naples Global Advisors LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,081 shares of the semiconductor manufacturer's stock after selling 6,363 shares during the quarter. Broadcom accounts for approximately 2.0% of Naples Global Advisors LLC's investment portfolio, making the stock its 4th largest position. Naples Global Advisors LLC's holdings in Broadcom were worth $20,942,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. raised its position in Broadcom by 3.8% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after purchasing an additional 18,845 shares in the last quarter. Nebula Research & Development LLC increased its stake in shares of Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after purchasing an additional 14,399 shares during the last quarter. Kovack Advisors Inc. increased its stake in shares of Broadcom by 8.1% in the 4th quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer's stock valued at $7,971,000 after purchasing an additional 2,570 shares during the last quarter. SOA Wealth Advisors LLC. raised its holdings in shares of Broadcom by 50.6% during the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer's stock worth $245,000 after buying an additional 355 shares in the last quarter. Finally, Coppell Advisory Solutions LLC lifted its position in shares of Broadcom by 1,512.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock worth $21,660,000 after buying an additional 86,884 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent analyst reports. Redburn Atlantic assumed coverage on Broadcom in a research report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 target price on the stock. Barclays reduced their price target on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. William Blair reiterated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. KeyCorp increased their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and a consensus target price of $246.00.

Insider Buying and Selling

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the sale, the insider now owns 465,956 shares of the company's stock, 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 a total of 720,576 shares of company stock valued at $131,249,694 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Down 0.4%

AVGO traded down $1.15 during trading on Thursday, hitting $259.93. The company's stock had a trading volume of 41,745,758 shares, compared to its average volume of 30,914,786. The firm has a market capitalization of $1.22 trillion, a P/E ratio of 212.02, a PEG ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $265.43. The stock's fifty day moving average price is $200.31 and its 200-day moving average price is $205.00. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.91%. Broadcom's dividend payout ratio is presently 113.46%.

Broadcom declared that its Board of Directors has initiated a share repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Broadcom 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.