Broadcom Inc. (NASDAQ:AVGO) Stock Position Boosted by Virtus ETF Advisers LLC

Virtus ETF Advisers LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 14.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,693 shares of the semiconductor manufacturer’s stock after acquiring an additional 854 shares during the quarter. Broadcom makes up about 0.6% of Virtus ETF Advisers LLC’s holdings, making the stock its 7th biggest position. Virtus ETF Advisers LLC’s holdings in Broadcom were worth $1,552,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Broadcom by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after purchasing an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC increased its stake in Broadcom by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock valued at $23,647,209,000 after buying an additional 3,018,294 shares during the period. FMR LLC raised its position in Broadcom by 3.2% during the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer’s stock worth $21,624,718,000 after buying an additional 2,873,809 shares during the last quarter. Norges Bank acquired a new stake in shares of Broadcom in the 4th quarter worth $16,893,010,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer’s stock valued at $11,018,089,000 after acquiring an additional 15,171,849 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the transaction, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. This represents a 5.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Justine Page sold 800 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares in the company, valued at $4,695,300. This represents a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 719,776 shares of company stock valued at $131,065,542. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on AVGO. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Barclays cut their price objective on Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a research report on Tuesday. Truist Financial upped their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Benchmark reiterated a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, Morgan Stanley upped their target price 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 and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $229.48.

Broadcom Price Performance

NASDAQ:AVGO opened at $192.31 on Friday. The firm has a market cap of $904.23 billion, a price-to-earnings ratio of 156.86, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 12-month low of $122.33 and a 12-month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company’s 50-day moving average is $184.36 and its two-hundred day moving average is $196.02.

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

Broadcom Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

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.