Coastline Trust Co Has $938,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Coastline Trust Co raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,048 shares of the semiconductor manufacturer’s stock after purchasing an additional 191 shares during the quarter. Coastline Trust Co’s holdings in Broadcom were worth $938,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Central Pacific Bank Trust Division grew its position in shares of Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares in the last quarter. Wolff Financial Management LLC acquired a new position in Broadcom in the 4th quarter valued at $244,000. Motive Wealth Advisors lifted its position in shares of Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after acquiring an additional 4,209 shares during the period. Tidal Investments LLC grew its holdings in shares of Broadcom by 969.3% during the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after purchasing an additional 350,485 shares in the last quarter. Finally, Franchise Capital Ltd bought a new position in shares of Broadcom in the fourth quarter worth $2,017,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $170.99 on Friday. 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 firm’s fifty day simple moving average is $189.84 and its two-hundred day simple moving average is $195.90. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a market capitalization of $803.99 billion, a P/E ratio of 139.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.38%. Broadcom’s dividend payout ratio is currently 113.46%.

Broadcom declared that its Board of Directors has initiated a share repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AVGO shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Barclays increased their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Bank of America decreased their price target on Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Truist Financial upped their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $231.28.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares of the company’s stock, valued at $4,695,300. The trade was a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is owned by corporate insiders.

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.