Capital Analysts LLC Sells 10,756 Shares of Broadcom Inc. (NASDAQ:AVGO)

Capital Analysts LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,925 shares of the semiconductor manufacturer's stock after selling 10,756 shares during the quarter. Broadcom comprises about 0.8% of Capital Analysts LLC's investment portfolio, making the stock its 23rd largest holding. Capital Analysts LLC's holdings in Broadcom were worth $20,384,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. UP Strategic Wealth Investment Advisors LLC grew its holdings in shares of Broadcom by 80.1% in the 4th quarter. UP Strategic Wealth Investment Advisors LLC now owns 3,155 shares of the semiconductor manufacturer's stock valued at $731,000 after buying an additional 1,403 shares during the period. Three Seasons Wealth LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at about $587,000. New Vernon Investment Management LLC raised its stake in shares of Broadcom by 700.4% in the 4th quarter. New Vernon Investment Management LLC now owns 88,047 shares of the semiconductor manufacturer's stock valued at $20,413,000 after purchasing an additional 77,047 shares during the period. Grand Alliance Asset Management Ltd bought a new stake in shares of Broadcom in the fourth quarter valued at about $7,883,000. Finally, Knightsbridge Asset Management LLC boosted its position in shares of Broadcom by 7.4% during the fourth quarter. Knightsbridge Asset Management LLC now owns 4,215 shares of the semiconductor manufacturer's stock worth $977,000 after buying an additional 292 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 800 shares of the business's stock in a transaction dated 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 owns 25,380 shares of the company's stock, valued at approximately $4,695,300. The trade was a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 30,000 shares of the firm'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 directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. This 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 quarter. Company insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $4.16 during mid-day trading on Friday, reaching $192.31. 21,216,875 shares of the company were exchanged, compared to its average volume of 31,313,236. The stock has a market capitalization of $904.23 billion, a P/E ratio of 156.86, a P/E/G ratio of 2.29 and a beta of 1.05. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company's 50-day simple moving average is $184.36 and its 200-day simple moving average is $196.17. Broadcom Inc. has a twelve month low of $122.33 and a twelve month high of $251.88.

Broadcom announced that its Board of Directors has initiated a share buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently disclosed 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 of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.23%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. William Blair restated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Benchmark reissued a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Barclays decreased their target price on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Finally, Mizuho reduced their price objective on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and a consensus 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.