Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Rollins Financial Advisors LLC

Rollins Financial Advisors LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 7.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,158 shares of the semiconductor manufacturer’s stock after purchasing an additional 378 shares during the period. Rollins Financial Advisors LLC’s holdings in Broadcom were worth $1,196,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its position in Broadcom by 976.6% during the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after acquiring an additional 89,975,941 shares during the last quarter. Norges Bank acquired a new position in shares of Broadcom during the 4th quarter worth approximately $16,893,010,000. Franklin Resources Inc. lifted its stake in Broadcom by 1,114.6% in the 3rd quarter. Franklin Resources Inc. now owns 21,113,921 shares of the semiconductor manufacturer’s stock valued at $3,849,270,000 after buying an additional 19,375,547 shares in the last quarter. GQG Partners LLC grew its holdings in Broadcom by 200.0% during the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer’s stock valued at $2,367,819,000 after buying an additional 6,809,245 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Broadcom by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after buying an additional 6,573,204 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AVGO. Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Citigroup raised their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. KeyCorp upped their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Finally, William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $154.14 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm’s 50-day moving average price is $200.61 and its two-hundred day moving average price is $196.34. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The stock has a market capitalization of $724.76 billion, a P/E ratio of 125.73, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

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

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76 % 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 Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now directly 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 sold 697,976 shares of company stock worth $127,336,102 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

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.