Seaview Investment Managers LLC Buys 2,816 Shares of Broadcom Inc. (NASDAQ:AVGO)

Seaview Investment Managers LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,383 shares of the semiconductor manufacturer's stock after buying an additional 2,816 shares during the period. Broadcom makes up approximately 3.8% of Seaview Investment Managers LLC's investment portfolio, making the stock its 3rd biggest holding. Seaview Investment Managers LLC's holdings in Broadcom were worth $13,767,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

AVGO has been the subject of several recent research reports. Mizuho reduced their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Benchmark reaffirmed a "buy" rating and set a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Morgan Stanley increased their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Bank of America cut their price objective on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Truist Financial raised their target price on Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $229.48.

Broadcom Trading Up 4.3 %

AVGO stock traded up $7.30 during midday trading on Wednesday, hitting $176.88. 24,325,111 shares of the company's stock were exchanged, compared to its average volume of 31,253,913. Broadcom Inc. has a 1-year low of $122.33 and a 1-year 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 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 business has a 50-day simple moving average of $187.11 and a two-hundred day simple moving average of $195.98.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend 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%.

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

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the business'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 in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 490,956 shares of the company's stock, valued at $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. Insiders sold a total of 719,776 shares of company stock worth $131,065,542 over the last three months. Insiders own 2.00% of the company's stock.

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.