Acorns Advisers LLC Acquires 796 Shares of Broadcom Inc. (NASDAQ:AVGO)

Acorns Advisers LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 31.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,366 shares of the semiconductor manufacturer’s stock after purchasing an additional 796 shares during the quarter. Acorns Advisers LLC’s holdings in Broadcom were worth $780,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AVGO. Canton Hathaway LLC bought a new stake in Broadcom during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the 4th quarter worth approximately $26,000. Sellwood Investment Partners LLC bought a new position in shares of Broadcom during the 4th quarter worth approximately $32,000. Bellevue Asset Management LLC purchased a new stake in Broadcom during the fourth quarter valued at approximately $33,000. Finally, Synergy Investment Management LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 0.3 %

AVGO opened at $178.95 on Wednesday. The company has a fifty day moving average of $193.40 and a two-hundred day moving average of $196.03. The stock has a market capitalization of $841.41 billion, a price-to-earnings ratio of 145.96, a PEG ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Dividend Announcement

The firm 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. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.32%. Broadcom’s payout ratio is 113.46%.

Broadcom declared that its board has authorized a stock repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Citigroup decreased their price target on Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Barclays boosted their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Benchmark reiterated a “buy” rating and issued a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. Finally, Morgan Stanley raised their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.68.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 718,976 shares of company stock worth $130,917,542. 2.00% of the stock is owned by corporate 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.