Northeast Financial Consultants Inc Has $21.11 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Northeast Financial Consultants Inc reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,067 shares of the semiconductor manufacturer's stock after selling 5,062 shares during the period. Broadcom accounts for about 0.9% of Northeast Financial Consultants Inc's investment portfolio, making the stock its 26th largest position. Northeast Financial Consultants Inc's holdings in Broadcom were worth $21,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of AVGO. Vanguard Group Inc. raised its holdings in shares of Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after buying an additional 6,573,204 shares during the period. Geode Capital Management LLC boosted its stake in shares of Broadcom by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after purchasing an additional 3,018,294 shares during the period. FMR LLC lifted its stake in shares of Broadcom by 3.2% in the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after acquiring an additional 2,873,809 shares in the last quarter. Norges Bank acquired a new position in shares of Broadcom in the fourth quarter worth about $16,893,010,000. Finally, Northern Trust Corp lifted its stake in shares of Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after acquiring an additional 5,258,925 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

NASDAQ AVGO traded down $4.03 on Friday, reaching $228.61. 22,996,350 shares of the stock traded hands, compared to its average volume of 31,203,212. 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 $1.07 trillion, a price-to-earnings ratio of 186.47, a P/E/G ratio of 2.29 and a beta of 1.04. The firm's fifty day simple moving average is $186.31 and its 200 day simple moving average is $198.91. 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 of Directors has authorized a stock repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. Broadcom's dividend payout ratio (DPR) is 113.46%.

Insider Activity

In other news, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the sale, the insider now directly owns 465,956 shares of the company's stock, valued at $83,872,080. This represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Justine Page sold 800 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, 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 sold a total of 720,576 shares of company stock worth $131,249,694 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on AVGO. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Rosenblatt Securities reissued a "buy" rating and set a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. KeyCorp upped their target price on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Finally, Barclays lowered 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 given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $229.48.

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.