Freedom Together Foundation Lowers Stake in Broadcom Inc. (NASDAQ:AVGO)

Freedom Together Foundation cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 76.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,740 shares of the semiconductor manufacturer's stock after selling 5,700 shares during the period. Broadcom comprises approximately 0.0% of Freedom Together Foundation's holdings, making the stock its 20th largest position. Freedom Together Foundation's holdings in Broadcom were worth $403,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AVGO. Regent Peak Wealth Advisors LLC increased its stake in Broadcom by 3.0% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 13,309 shares of the semiconductor manufacturer's stock worth $3,086,000 after buying an additional 386 shares in the last quarter. Watts Gwilliam & Co. LLC boosted its holdings in shares of Broadcom by 21.7% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 9,763 shares of the semiconductor manufacturer's stock valued at $2,232,000 after purchasing an additional 1,744 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Broadcom by 9.8% in the 4th quarter. Fortitude Family Office LLC now owns 4,150 shares of the semiconductor manufacturer's stock valued at $962,000 after acquiring an additional 370 shares during the last quarter. Marotta Asset Management bought a new position in shares of Broadcom in the 4th quarter valued at about $223,000. Finally, Baker Tilly Wealth Management LLC lifted its holdings in shares of Broadcom by 2.5% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 8,188 shares of the semiconductor manufacturer's stock valued at $1,898,000 after acquiring an additional 201 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of AVGO stock traded up $10.84 on Tuesday, reaching $232.42. 28,111,424 shares of the company were exchanged, compared to its average volume of 31,226,472. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 189.58, a P/E/G ratio of 2.29 and a beta of 1.04. The business has a 50-day moving average price of $183.55 and a 200 day moving average price of $198.02. 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 1 year low of $128.50 and a 1 year high of $251.88.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.02%. Broadcom's dividend payout ratio is currently 113.46%.

Broadcom declared that its board has authorized a share 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 buy up to 1.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AVGO. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Bank of America decreased their price objective on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. KeyCorp raised their price objective 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 raised their price objective on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

Insider Buying and Selling

In other 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 value 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 $95,564,585.40. This represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction of $148,000.00. Following the completion of the transaction, the director now owns 25,380 shares in the company, valued at approximately $4,695,300. This represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is owned by insiders.

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.