Wealthedge Investment Advisors LLC Makes New $3.60 Million Investment in Broadcom Inc. (NASDAQ:AVGO)

Wealthedge Investment Advisors LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 15,505 shares of the semiconductor manufacturer's stock, valued at approximately $3,595,000. Broadcom comprises about 1.6% of Wealthedge Investment Advisors LLC's investment portfolio, making the stock its 15th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KFA Private Wealth Group LLC grew its position in Broadcom by 2.5% in the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock valued at $407,000 after acquiring an additional 42 shares in the last quarter. Bryant Woods Investment Advisors LLC increased its stake in Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock worth $305,000 after purchasing an additional 45 shares during the period. Marest Capital LLC increased its stake in Broadcom by 1.0% during the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock worth $1,052,000 after purchasing an additional 46 shares during the period. Register Financial Advisors LLC increased its stake in Broadcom by 1.3% during the fourth quarter. Register Financial Advisors LLC now owns 3,693 shares of the semiconductor manufacturer's stock worth $856,000 after purchasing an additional 47 shares during the period. Finally, SlateStone Wealth LLC increased its stake in Broadcom by 0.3% during the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock worth $3,207,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares of the company's stock, valued at $4,695,300. The trade was 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 sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

Shares of AVGO stock traded up $2.54 during trading hours on Thursday, hitting $241.97. The stock had a trading volume of 20,731,794 shares, compared to its average volume of 31,021,031. The firm has a market capitalization of $1.14 trillion, a PE ratio of 197.37, a PEG ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88. The stock's 50 day moving average is $193.34 and its 200 day moving average is $202.36. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

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

Broadcom Dividend Announcement

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 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Thursday, March 20th. Broadcom's payout ratio is currently 113.46%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Susquehanna boosted their price target on shares of Broadcom from $250.00 to $280.00 and gave the stock a "positive" rating in a research note on Thursday. Redburn Atlantic assumed coverage on shares of Broadcom in a research note on Wednesday. They set a "buy" rating and a $301.00 price target on the stock. KeyCorp boosted their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Morgan Stanley boosted their price objective on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Finally, Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Three research 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $236.27.

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.