2,649 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Wise Wealth Partners

Wise Wealth Partners bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 2,649 shares of the semiconductor manufacturer's stock, valued at approximately $614,000. Broadcom accounts for 1.5% of Wise Wealth Partners' investment portfolio, making the stock its 11th biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KFA Private Wealth Group LLC boosted its holdings in shares of Broadcom by 2.5% during the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock worth $407,000 after acquiring an additional 42 shares during the period. Dakota Community Bank & Trust NA lifted its holdings in Broadcom by 2.7% during the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock worth $391,000 after purchasing an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC boosted its stake in Broadcom by 3.5% in the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock valued at $305,000 after purchasing an additional 45 shares during the period. Marest Capital LLC grew its holdings in Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock valued at $1,052,000 after buying an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC increased its position in Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock worth $2,947,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Trading Up 3.2 %

NASDAQ AVGO traded up $6.31 on Friday, hitting $203.64. The company's stock had a trading volume of 17,749,359 shares, compared to its average volume of 31,190,330. The company's 50-day moving average is $182.19 and its 200 day moving average is $196.28. The firm 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 Inc. has a 1-year low of $124.71 and a 1-year high of $251.88. 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 announced that its board has authorized a stock repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently announced 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. This represents a $2.36 annualized dividend and a yield of 1.16%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction on 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 transaction, the insider now owns 465,956 shares in the company, valued at $83,872,080. The trade was a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 719,776 shares of company stock valued at $131,065,542. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of several research reports. KeyCorp raised their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Bank of America dropped their price target on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. William Blair reissued an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Benchmark reaffirmed a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Mizuho reduced their target price on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.