Sulzberger Capital Advisors Inc. Takes $1.62 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Sulzberger Capital Advisors Inc. purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,977 shares of the semiconductor manufacturer's stock, valued at approximately $1,618,000. Broadcom accounts for approximately 1.8% of Sulzberger Capital Advisors Inc.'s holdings, making the stock its 16th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC raised its position in 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 last quarter. Principal Financial Group Inc. increased its stake in 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 valued at $1,238,966,000 after purchasing an additional 6,540,800 shares during the period. Invst LLC raised its holdings in shares of Broadcom by 928.6% in the third quarter. Invst LLC now owns 3,024 shares of the semiconductor manufacturer's stock valued at $522,000 after buying an additional 2,730 shares during the last quarter. McIlrath & Eck LLC boosted its stake in shares of Broadcom by 793.3% during the third quarter. McIlrath & Eck LLC now owns 402 shares of the semiconductor manufacturer's stock worth $69,000 after buying an additional 357 shares during the period. Finally, Passumpsic Savings Bank grew its holdings in shares of Broadcom by 900.9% during the third quarter. Passumpsic Savings Bank now owns 15,904 shares of the semiconductor manufacturer's stock worth $2,743,000 after buying an additional 14,315 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the sale, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the company's 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 directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock valued at $131,065,542 in the last ninety days. Corporate insiders own 2.00% of the company's stock.

Broadcom Price Performance

NASDAQ AVGO traded up $6.31 during trading hours on Friday, reaching $203.64. The company's stock had a trading volume of 17,749,359 shares, compared to its average volume of 31,190,347. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company's 50-day moving average is $182.21 and its two-hundred day moving average is $196.48. Broadcom Inc. has a fifty-two week low of $124.71 and a fifty-two week high of $251.88. The stock has a market cap of $957.50 billion, a PE ratio of 166.10, a PEG ratio of 2.29 and a beta of 1.05.

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

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.16%. Broadcom's dividend payout ratio is presently 113.46%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AVGO shares. KeyCorp increased their price objective on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a report on Wednesday. Mizuho dropped their price objective on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Benchmark restated a "buy" rating and issued a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. Finally, 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 report on Tuesday, April 22nd. Three equities 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 stock. According to MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and an average price target of $229.48.

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.