Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 136,136 shares of the semiconductor manufacturer's stock after purchasing an additional 18,475 shares during the period. Integrated Wealth Concepts LLC's holdings in Broadcom were worth $31,562,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Howard Capital Management Group LLC lifted its stake in shares of Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock valued at $524,000 after purchasing an additional 2,908 shares during the period. Principal Financial Group Inc. raised its position in shares of Broadcom by 1,019.4% in the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock worth $1,238,966,000 after acquiring an additional 6,540,800 shares during the period. Invst LLC boosted its stake in shares of Broadcom by 928.6% during the 3rd quarter. Invst LLC now owns 3,024 shares of the semiconductor manufacturer's stock worth $522,000 after acquiring an additional 2,730 shares in the last quarter. McIlrath & Eck LLC grew its position in shares of Broadcom by 793.3% during the 3rd quarter. McIlrath & Eck LLC now owns 402 shares of the semiconductor manufacturer's stock valued at $69,000 after acquiring an additional 357 shares during the period. Finally, Passumpsic Savings Bank increased its stake in shares of Broadcom by 900.9% in the 3rd quarter. Passumpsic Savings Bank now owns 15,904 shares of the semiconductor manufacturer's stock valued at $2,743,000 after purchasing an additional 14,315 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, 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 transaction of $148,000.00. Following the sale, the director now directly owns 25,380 shares in the company, valued at $4,695,300. This represents a 3.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction 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 in the company, valued at approximately $95,564,585.40. The trade was a 5.76 % 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 valued at $131,065,542 over the last quarter. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of several research analyst reports. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Bank of America cut their price target on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Citigroup dropped their target price on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Finally, Morgan Stanley boosted their price objective on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $229.48.

Broadcom Trading Down 1.6 %

Shares of AVGO traded down $2.98 during trading on Monday, reaching $189.33. 7,732,647 shares of the company traded hands, compared to its average volume of 31,219,837. The stock has a 50-day simple moving average of $184.36 and a 200-day simple moving average of $196.17. The stock has a market cap of $890.20 billion, a PE ratio of 154.21, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a twelve month low of $122.33 and a twelve month 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.

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

Broadcom Announces Dividend

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 $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.25%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

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.