Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Kera Capital Partners Inc.

Kera Capital Partners Inc. lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 4.7% during the first quarter, Holdings Channel.com reports. The fund owned 2,802 shares of the semiconductor manufacturer’s stock after selling 137 shares during the quarter. Kera Capital Partners Inc.’s holdings in Broadcom were worth $469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. increased its position in Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock worth $120,070,000 after purchasing an additional 18,845 shares in the last quarter. Nebula Research & Development LLC increased its position in shares of Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock worth $3,642,000 after acquiring an additional 14,399 shares in the last quarter. TTP Investments Inc. increased its position in shares of Broadcom by 71.7% in the fourth quarter. TTP Investments Inc. now owns 60,649 shares of the semiconductor manufacturer’s stock worth $14,061,000 after acquiring an additional 25,330 shares in the last quarter. Destiny Wealth Partners LLC lifted its holdings in shares of Broadcom by 1,211.3% during the 4th quarter. Destiny Wealth Partners LLC now owns 27,013 shares of the semiconductor manufacturer’s stock valued at $6,263,000 after acquiring an additional 24,953 shares in the last quarter. Finally, Mediolanum International Funds Ltd lifted its holdings in shares of Broadcom by 36.3% during the 4th quarter. Mediolanum International Funds Ltd now owns 634,112 shares of the semiconductor manufacturer’s stock valued at $149,017,000 after acquiring an additional 168,774 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the sale, the director now directly owns 26,182 shares in the company, valued at approximately $6,026,834.58. This represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 720,576 shares of company stock valued at $131,249,694 over the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of AVGO opened at $239.43 on Thursday. The firm has a market cap of $1.13 trillion, a price-to-earnings ratio of 195.30, a PEG ratio of 2.29 and a beta of 1.04. The stock has a 50 day moving average of $193.34 and a 200-day moving average of $202.36. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88.

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

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AVGO shares. Citigroup lowered their price target on Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday, April 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Barclays lowered their target price on Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Benchmark reissued a “buy” rating and set a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. Finally, Truist Financial increased their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.15.

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.