Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by UP Strategic Wealth Investment Advisors LLC

UP Strategic Wealth Investment Advisors LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 80.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,155 shares of the semiconductor manufacturer’s stock after buying an additional 1,403 shares during the quarter. Broadcom comprises approximately 0.7% of UP Strategic Wealth Investment Advisors LLC’s holdings, making the stock its 27th largest position. UP Strategic Wealth Investment Advisors LLC’s holdings in Broadcom were worth $731,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Canton Hathaway LLC bought a new stake in shares of Broadcom during the 4th quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom during the fourth quarter worth approximately $26,000. Sellwood Investment Partners LLC acquired a new position in shares of Broadcom during the 4th quarter valued at $32,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom during the 4th quarter valued at $33,000. Finally, Synergy Investment Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth $35,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Up 6.4 %

Shares of AVGO opened at $188.15 on Friday. The stock’s 50-day moving average price is $185.09 and its 200 day moving average price is $195.94. 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 Inc. has a 12-month low of $122.33 and a 12-month high of $251.88. The firm has a market capitalization of $884.67 billion, a price-to-earnings ratio of 153.47, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is 113.46%.

Broadcom declared that its board has approved a share repurchase program on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding 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 usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AVGO shares. Benchmark reaffirmed a “buy” rating and set a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. KeyCorp boosted their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Citigroup decreased their price objective on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, April 11th. William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $229.48.

Insider Activity

In other Broadcom news, Director Justine Page sold 800 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the sale, the director now directly owns 25,380 shares of the company’s stock, valued at approximately $4,695,300. This represents a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 719,776 shares of company stock worth $131,065,542. Corporate insiders own 2.00% of the company’s stock.

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.