4,645 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Pacific Point Advisors LLC

Pacific Point Advisors LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,645 shares of the semiconductor manufacturer’s stock, valued at approximately $1,033,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new position in Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $26,000. Sellwood Investment Partners LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $32,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of analyst reports. Mizuho cut their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Barclays dropped their price target on shares of Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Seaport Res Ptn raised shares of Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley upped their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $229.48.

Insider Buying and Selling

In related news, Director Henry Samueli sold 663,976 shares of the firm’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 owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 800 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now owns 25,380 shares in the company, valued at $4,695,300. This represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock worth $131,249,694 over the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

AVGO opened at $230.53 on Friday. The firm has a market cap of $1.08 trillion, a price-to-earnings ratio of 188.04, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $251.88. The company’s 50-day moving average price is $190.02 and its 200 day moving average price is $200.90. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.02%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Broadcom announced that its Board of Directors has authorized a share buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

About Broadcom

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.