3,498 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Coign Capital Advisors LLC

Coign Capital Advisors LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,498 shares of the semiconductor manufacturer's stock, valued at approximately $811,000. Broadcom accounts for 0.7% of Coign Capital Advisors LLC's holdings, making the stock its 29th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after purchasing an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC lifted its stake in Broadcom by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after buying an additional 3,018,294 shares in the last quarter. FMR LLC grew its holdings in Broadcom by 3.2% during the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock valued at $21,624,718,000 after buying an additional 2,873,809 shares during the last quarter. Norges Bank acquired a new stake in Broadcom during the 4th quarter valued at $16,893,010,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Broadcom by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 32,808,362 shares of the semiconductor manufacturer's stock worth $7,606,291,000 after acquiring an additional 810,907 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

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Broadcom Price Performance

Broadcom stock traded down $3.58 during mid-day trading on Monday, hitting $178.36. 25,312,472 shares of the company were exchanged, compared to its average volume of 31,342,019. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. 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 business has a fifty day moving average of $195.52 and a 200 day moving average of $196.11. The company has a market capitalization of $838.64 billion, a PE ratio of 145.48, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

Broadcom declared that its Board of Directors has initiated a share repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors 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 1.32%. Broadcom's dividend payout ratio (DPR) is 113.46%.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 sale, the insider now 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 disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AVGO shares. Benchmark reissued a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Morgan Stanley raised their price objective on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. William Blair reissued an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Finally, Mizuho lowered their target price on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research note 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $231.68.

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.