Optivise Advisory Services LLC Has $635,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Optivise Advisory Services LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 17.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,740 shares of the semiconductor manufacturer’s stock after selling 593 shares during the quarter. Optivise Advisory Services LLC’s holdings in Broadcom were worth $635,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Broadcom in the fourth quarter worth $16,893,010,000. Franklin Resources Inc. lifted its position in Broadcom by 1,114.6% during the third quarter. Franklin Resources Inc. now owns 21,113,921 shares of the semiconductor manufacturer’s stock worth $3,849,270,000 after purchasing an additional 19,375,547 shares during the period. GQG Partners LLC grew its stake in Broadcom by 200.0% during the fourth quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer’s stock worth $2,367,819,000 after buying an additional 6,809,245 shares in the last quarter. Vanguard Group Inc. increased its holdings in Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock valued at $110,155,206,000 after buying an additional 6,573,204 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after acquiring an additional 6,540,800 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was 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 owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the sale, the insider now owns 465,956 shares of the company’s stock, valued at approximately $83,872,080. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 719,776 shares of company stock worth $131,065,542. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. Benchmark reissued a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. KeyCorp raised their price objective on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Mizuho lowered their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $231.28.

Broadcom Stock Performance

NASDAQ:AVGO opened at $170.99 on Monday. Broadcom Inc. has a fifty-two week low of $120.05 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a 50 day simple moving average of $189.84 and a two-hundred day simple moving average of $196.24. The company has a market capitalization of $803.99 billion, a PE ratio of 139.47, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom announced that its board has authorized a stock 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 purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.38%. 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.