Lantern Wealth Advisors LLC Sells 437 Shares of Broadcom Inc. (NASDAQ:AVGO)

Lantern Wealth Advisors LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,787 shares of the semiconductor manufacturer’s stock after selling 437 shares during the quarter. Broadcom comprises 1.0% of Lantern Wealth Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. Lantern Wealth Advisors LLC’s holdings in Broadcom were worth $1,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in AVGO. Vanguard Group Inc. boosted its position in shares of Broadcom by 1.4% during the fourth 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 last quarter. Geode Capital Management LLC boosted its holdings in Broadcom by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock worth $23,647,209,000 after acquiring an additional 3,018,294 shares during the last quarter. FMR LLC grew its stake in shares of Broadcom by 3.2% in the 4th 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 purchased a new stake in shares of Broadcom in the fourth quarter valued at about $16,893,010,000. Finally, Northern Trust Corp lifted its position in shares of Broadcom by 12.0% during the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer’s stock valued at $11,380,411,000 after purchasing an additional 5,258,925 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction, the insider now directly owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 sale, the director now owns 26,182 shares in the company, 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. Over the last 90 days, insiders sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on AVGO. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Barclays dropped their price target on Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Mizuho reduced their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Finally, KeyCorp raised their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $229.48.

Broadcom Stock Performance

Shares of AVGO opened at $230.63 on Tuesday. The company has a 50-day simple moving average of $187.81 and a two-hundred day simple moving average of $200.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a market capitalization of $1.08 trillion, a PE ratio of 188.12, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a one year low of $128.50 and a one year high of $251.88.

Broadcom announced that its board has approved a stock repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.02%. Broadcom’s payout ratio is 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.