Fullcircle Wealth LLC Sells 1,806 Shares of Broadcom Inc. (NASDAQ:AVGO)

Fullcircle Wealth LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,005 shares of the semiconductor manufacturer's stock after selling 1,806 shares during the period. Broadcom makes up about 1.0% of Fullcircle Wealth LLC's holdings, making the stock its 23rd biggest position. Fullcircle Wealth LLC's holdings in Broadcom were worth $2,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canton Hathaway LLC purchased a new position in Broadcom in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom in the fourth quarter valued at about $26,000. Sellwood Investment Partners LLC bought a new stake in shares of Broadcom during the 4th quarter worth about $32,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom during the 4th quarter valued at about $33,000. Finally, Synergy Investment Management LLC acquired a new stake in Broadcom in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction dated 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 transaction, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Justine Page sold 800 shares of the business's stock in a transaction dated 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 directly owns 25,380 shares of the company's stock, 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. Insiders have sold a total of 719,776 shares of company stock worth $131,065,542 over the last ninety days. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Benchmark reiterated a "buy" rating and issued a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Barclays dropped their target price on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Mizuho dropped their target price on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Finally, Seaport Res Ptn upgraded 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-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

Broadcom Price Performance

NASDAQ:AVGO traded up $10.90 on Monday, reaching $219.10. The stock had a trading volume of 12,134,380 shares, compared to its average volume of 31,185,952. The company has a market capitalization of $1.03 trillion, a P/E ratio of 178.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $251.88. 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 stock has a fifty day moving average price of $182.95 and a 200-day moving average price of $197.68.

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

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.08%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

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.