Empire Financial Management Company LLC Has $4.76 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Empire Financial Management Company LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,527 shares of the semiconductor manufacturer’s stock after acquiring an additional 253 shares during the quarter. Broadcom comprises approximately 1.5% of Empire Financial Management Company LLC’s investment portfolio, making the stock its 10th biggest holding. Empire Financial Management Company LLC’s holdings in Broadcom were worth $4,759,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Bank of America reduced their price objective on Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Citigroup lowered their target price on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Morgan Stanley lifted their price objective on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $229.48.

Insider Activity

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Monday, April 14th. The shares were 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 owns 25,380 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 719,776 shares of company stock valued at $131,065,542 in the last ninety days. 2.00% of the stock is owned by insiders.

Broadcom Trading Up 4.3 %

Shares of AVGO stock opened at $176.88 on Thursday. Broadcom Inc. has a 1 year low of $122.33 and a 1 year high of $251.88. The firm has a market capitalization of $831.69 billion, a P/E ratio of 144.28, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The firm’s fifty day simple moving average is $185.99 and its 200 day simple moving average is $195.85. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued 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 1.33%. Broadcom’s dividend payout ratio is currently 113.46%.

Broadcom announced that its board has approved a share repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.