Nebula Research & Development LLC Acquires 14,399 Shares of Broadcom Inc. (NASDAQ:AVGO)

Nebula Research & Development LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,100.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,707 shares of the semiconductor manufacturer's stock after buying an additional 14,399 shares during the quarter. Broadcom accounts for approximately 0.4% of Nebula Research & Development LLC's investment portfolio, making the stock its 20th biggest holding. Nebula Research & Development LLC's holdings in Broadcom were worth $3,642,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Canton Hathaway LLC purchased a new stake in shares of Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter worth about $26,000. Sellwood Investment Partners LLC bought a new position in Broadcom in the 4th quarter worth about $32,000. Bellevue Asset Management LLC purchased a new position in Broadcom during the 4th quarter valued at about $33,000. Finally, Synergy Investment Management LLC bought a new stake in shares of Broadcom during the fourth quarter valued at about $35,000. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now owns 465,956 shares of the company's stock, valued at approximately $83,872,080. The trade was a 5.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 719,776 shares of company stock valued at $131,065,542 over the last quarter. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AVGO. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Citigroup cut their price objective on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a report on Friday, April 11th. Barclays lowered their target price on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. William Blair reissued an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.48.

Broadcom Trading Down 0.3 %

Shares of AVGO traded down $0.54 during mid-day trading on Tuesday, hitting $191.93. 4,585,945 shares of the company's stock traded hands, compared to its average volume of 31,148,202. 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 Inc. has a 1 year low of $122.33 and a 1 year high of $251.88. The business's 50-day moving average price is $183.64 and its 200-day moving average price is $196.24. The firm has a market capitalization of $902.45 billion, a P/E ratio of 156.37, a PEG ratio of 2.29 and a beta of 1.05.

Broadcom announced that its board has initiated a share buyback plan on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 dividend on an annualized basis and a yield of 1.23%. Broadcom's dividend payout ratio (DPR) is 113.46%.

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.