SGL Investment Advisors Inc. Has $262,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

SGL Investment Advisors Inc. trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 16.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,108 shares of the semiconductor manufacturer’s stock after selling 219 shares during the period. SGL Investment Advisors Inc.’s holdings in Broadcom were worth $262,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Shell Asset Management Co. increased its holdings in Broadcom by 7.0% in the 4th quarter. Shell Asset Management Co. now owns 170,898 shares of the semiconductor manufacturer’s stock worth $39,621,000 after purchasing an additional 11,124 shares in the last quarter. Sig Brokerage LP acquired a new stake in shares of Broadcom during the fourth quarter valued at about $718,000. Raiffeisen Bank International AG bought a new stake in shares of Broadcom during the fourth quarter worth about $157,060,000. Ratan Capital Management LP increased its stake in shares of Broadcom by 20.6% in the fourth quarter. Ratan Capital Management LP now owns 79,610 shares of the semiconductor manufacturer’s stock valued at $18,457,000 after buying an additional 13,605 shares during the period. Finally, Redwood Financial Network Corp acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $432,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 0.2%

NASDAQ:AVGO opened at $232.64 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 has a fifty day simple moving average of $186.31 and a two-hundred day simple moving average of $198.91. The stock has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 189.76, a PEG ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88.

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

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.01%. Broadcom’s dividend payout ratio is 113.46%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was 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 trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent research reports. KeyCorp lifted their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Truist Financial lifted their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Benchmark reissued a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $229.48.

Broadcom 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.