Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Vance Wealth LLC

Vance Wealth LLC reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 19.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,107 shares of the semiconductor manufacturer’s stock after selling 263 shares during the period. Vance Wealth LLC’s holdings in Broadcom were worth $257,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC grew its position in shares of Broadcom by 3.0% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 13,309 shares of the semiconductor manufacturer’s stock worth $3,086,000 after acquiring an additional 386 shares during the last quarter. Tallon Kerry Patrick purchased a new position in shares of Broadcom during the fourth quarter worth about $357,000. Capital & Planning LLC grew its holdings in shares of Broadcom by 15.3% during the fourth quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer’s stock worth $969,000 after buying an additional 554 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in shares of Broadcom by 4.0% during the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 14,492 shares of the semiconductor manufacturer’s stock worth $3,360,000 after buying an additional 563 shares during the last quarter. Finally, Integrated Investment Consultants LLC grew its holdings in shares of Broadcom by 0.9% during the fourth quarter. Integrated Investment Consultants LLC now owns 5,392 shares of the semiconductor manufacturer’s stock worth $1,250,000 after buying an additional 47 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock valued at $131,249,694 over the last three months. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several analyst reports. 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. KeyCorp lifted their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Mizuho lowered their target price on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Finally, Citigroup lowered their price objective on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, April 11th. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $229.48.

Broadcom Stock Performance

Broadcom stock opened at $230.63 on Tuesday. The stock’s 50-day moving average is $187.81 and its 200-day moving average is $200.05. The company has a market cap of $1.08 trillion, a price-to-earnings ratio of 188.12, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88.

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

Broadcom Dividend Announcement

The firm also recently announced 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 1.02%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

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.