Investor s Fiduciary Advisor Network LLC Takes $3.67 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Investor s Fiduciary Advisor Network LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 15,829 shares of the semiconductor manufacturer's stock, valued at approximately $3,669,000. Broadcom comprises approximately 1.4% of Investor s Fiduciary Advisor Network LLC's investment portfolio, making the stock its 13th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Canton Hathaway LLC bought a new position in shares of Broadcom in the fourth quarter worth $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 purchased a new stake in Broadcom during the fourth quarter valued at about $32,000. Bellevue Asset Management LLC purchased a new position in Broadcom in the 4th quarter worth approximately $33,000. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom during the 4th quarter valued at $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVGO has been the topic of several research analyst reports. Barclays reduced their price target on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Morgan Stanley increased their price target on Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Citigroup cut their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, KeyCorp increased 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. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $229.48.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction on Monday, March 24th. The stock was 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 directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The sale was disclosed in a legal 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 dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. The trade was a 3.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 719,776 shares of company stock valued at $131,065,542. Corporate insiders own 2.00% of the company's stock.

Broadcom Price Performance

NASDAQ AVGO traded up $7.42 during mid-day trading on Tuesday, hitting $229.00. The stock had a trading volume of 6,877,718 shares, compared to its average volume of 31,145,818. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm's 50 day moving average is $183.55 and its 200 day moving average is $198.02. The stock has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 186.79, a PEG ratio of 2.29 and a beta of 1.04.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. Broadcom's payout ratio is presently 113.46%.

Broadcom declared that its board has approved a share repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its stock is undervalued.

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.