Banco Bilbao Vizcaya Argentaria S.A. Increases Position in Broadcom Inc. (NASDAQ:AVGO)

Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 515,388 shares of the semiconductor manufacturer's stock after buying an additional 18,845 shares during the quarter. Broadcom makes up 1.3% of Banco Bilbao Vizcaya Argentaria S.A.'s holdings, making the stock its 13th largest holding. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Broadcom were worth $120,070,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AVGO. Canton Hathaway LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter valued at approximately $26,000. Sellwood Investment Partners LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $32,000. Bellevue Asset Management LLC purchased a new position in shares of Broadcom in the fourth quarter worth $33,000. Finally, Synergy Investment Management LLC bought a new position in shares of Broadcom during the fourth quarter worth $35,000. Institutional investors own 76.43% of the company's stock.

Insider Activity

In other news, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following 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 disclosure for this sale can be found here. In the last quarter, insiders sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Broadcom stock opened at $176.88 on Thursday. 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 market capitalization of $831.69 billion, a PE ratio of 144.28, a P/E/G ratio of 2.29 and a beta of 1.05. The company has a 50 day moving average price of $185.99 and a 200-day moving average price of $195.85. Broadcom Inc. has a fifty-two week low of $122.33 and a fifty-two week high of $251.88.

Broadcom declared that its board has approved a stock repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Truist Financial raised their price objective on Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Benchmark reiterated a "buy" rating and issued a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Bank of America cut their price target on Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $229.48.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.