Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Shorepoint Capital Partners LLC

Shorepoint Capital Partners LLC lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,372 shares of the semiconductor manufacturer's stock after selling 7,044 shares during the quarter. Broadcom accounts for about 6.3% of Shorepoint Capital Partners LLC's portfolio, making the stock its 2nd biggest position. Shorepoint Capital Partners LLC's holdings in Broadcom were worth $27,443,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. KFA Private Wealth Group LLC lifted its holdings in Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock valued at $407,000 after acquiring an additional 42 shares during the period. Dakota Community Bank & Trust NA grew its position in shares of Broadcom by 2.7% during the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock valued at $391,000 after acquiring an additional 45 shares during the period. Bryant Woods Investment Advisors LLC boosted its position in Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock worth $305,000 after purchasing an additional 45 shares in the last quarter. Marest Capital LLC grew its holdings in Broadcom by 1.0% in the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock valued at $1,052,000 after purchasing an additional 46 shares during the period. Finally, Defined Wealth Management LLC lifted its position in shares of Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock valued at $2,947,000 after buying an additional 47 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 2.2 %

AVGO stock opened at $192.31 on Friday. The company's 50 day moving average is $184.36 and its two-hundred day moving average is $196.09. Broadcom Inc. has a twelve month low of $122.33 and a twelve month high of $251.88. 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 stock has a market cap of $904.23 billion, a P/E ratio of 156.86, a PEG ratio of 2.29 and a beta of 1.05.

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

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 dividend yield of 1.23%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 value of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares in the company, valued at $4,695,300. This represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research reports. Rosenblatt Securities reissued a "buy" rating and set a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Bank of America lowered their target price on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Benchmark reissued a "buy" rating and set a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Barclays dropped their price objective on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $229.48.

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.

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