Studio Investment Management LLC Has $5.09 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Studio Investment Management LLC cut its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,962 shares of the semiconductor manufacturer's stock after selling 1,655 shares during the period. Broadcom accounts for 1.1% of Studio Investment Management LLC's holdings, making the stock its 24th biggest holding. Studio Investment Management LLC's holdings in Broadcom were worth $5,092,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AVGO. Regent Peak Wealth Advisors LLC increased its position in Broadcom by 3.0% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 13,309 shares of the semiconductor manufacturer's stock valued at $3,086,000 after purchasing an additional 386 shares during the period. RMR Wealth Builders boosted its stake in shares of Broadcom by 1.0% during the fourth quarter. RMR Wealth Builders now owns 70,370 shares of the semiconductor manufacturer's stock valued at $16,315,000 after purchasing an additional 676 shares in the last quarter. Presilium Private Wealth LLC purchased a new position in Broadcom during the fourth quarter valued at approximately $281,000. Redhawk Wealth Advisors Inc. increased its holdings in Broadcom by 17.2% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 7,642 shares of the semiconductor manufacturer's stock valued at $1,772,000 after buying an additional 1,121 shares during the period. Finally, Pinnacle Bancorp Inc. raised its stake in Broadcom by 31.4% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,820 shares of the semiconductor manufacturer's stock worth $422,000 after buying an additional 435 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction dated Friday, April 11th. The shares were 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 in the company, valued at approximately $83,872,080. This represents a 5.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Justine Page sold 800 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the transaction, the director now owns 26,182 shares of the company's stock, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 720,576 shares of company stock valued at $131,249,694. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent research reports. Morgan Stanley upped 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. Benchmark reiterated a "buy" rating and issued a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Citigroup reduced their price objective on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Mizuho decreased their price objective on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Finally, Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Three equities research 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $229.48.

Broadcom Stock Up 0.5%

AVGO stock traded up $1.05 during trading on Tuesday, reaching $231.68. The stock had a trading volume of 11,749,421 shares, compared to its average volume of 31,114,542. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $1.09 trillion, a P/E ratio of 188.97, a PEG ratio of 2.29 and a beta of 1.04. The firm has a fifty day moving average price of $187.81 and a 200 day moving average price of $200.05.

Broadcom announced that its Board of Directors has authorized a share repurchase program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Broadcom Announces Dividend

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