Broadcom Inc. (NASDAQ:AVGO) is Coppell Advisory Solutions LLC's 4th Largest Position

Coppell Advisory Solutions LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,512.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 92,629 shares of the semiconductor manufacturer's stock after purchasing an additional 86,884 shares during the period. Broadcom accounts for 3.1% of Coppell Advisory Solutions LLC's investment portfolio, making the stock its 4th largest position. Coppell Advisory Solutions LLC's holdings in Broadcom were worth $21,660,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

AVGO has been the topic of a number of analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. William Blair reaffirmed 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 target price on shares of Broadcom in a report on Friday, March 7th. Bank of America cut their target price on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, KeyCorp boosted their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $229.48.

Broadcom Trading Up 2.2 %

Broadcom stock traded up $4.16 during midday trading on Friday, reaching $192.31. The stock had a trading volume of 21,216,875 shares, compared to its average volume of 31,284,361. Broadcom Inc. has a 52-week low of $122.33 and a 52-week high of $251.88. The company has a fifty day moving average of $185.09 and a 200 day moving average of $195.94. The firm has a market cap of $904.23 billion, a price-to-earnings ratio of 156.86, a price-to-earnings-growth 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.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

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 outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This trade represents a 3.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 719,776 shares of company stock worth $131,065,542 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

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.