Guardian Wealth Advisors LLC NC Has $9.61 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Guardian Wealth Advisors LLC NC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,453 shares of the semiconductor manufacturer's stock after selling 2,071 shares during the quarter. Guardian Wealth Advisors LLC NC's holdings in Broadcom were worth $9,610,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $26,000. Sellwood Investment Partners LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $32,000. Bellevue Asset Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $33,000. Finally, Synergy Investment Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $35,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AVGO. Mizuho reduced their price objective on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Benchmark reiterated a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Truist Financial increased their target price on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Finally, Barclays dropped their target price on Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $229.48.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares of the company's stock, valued at $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justine Page sold 800 shares of the business'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 transaction, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. This trade represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 719,776 shares of company stock worth $131,065,542. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Up 4.9%

AVGO traded up $10.84 on Tuesday, hitting $232.42. 28,402,884 shares of the company were exchanged, compared to its average volume of 31,226,494. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88. The company has a market cap of $1.09 trillion, a PE ratio of 189.58, a PEG ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock's fifty day moving average is $183.55 and its 200-day moving average is $198.02.

Broadcom Dividend Announcement

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

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

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.