Evexia Wealth LLC Sells 2,437 Shares of Broadcom Inc. (NASDAQ:AVGO)

Evexia Wealth LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,849 shares of the semiconductor manufacturer's stock after selling 2,437 shares during the period. Broadcom comprises about 4.8% of Evexia Wealth LLC's portfolio, making the stock its largest position. Evexia Wealth LLC's holdings in Broadcom were worth $13,908,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AVGO. Howard Capital Management Group LLC boosted its position in Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock valued at $524,000 after acquiring an additional 2,908 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock worth $1,238,966,000 after purchasing an additional 6,540,800 shares during the last quarter. First National Bank of Omaha boosted its position in Broadcom by 900.0% during the third quarter. First National Bank of Omaha now owns 2,680 shares of the semiconductor manufacturer's stock valued at $462,000 after purchasing an additional 2,412 shares in the last quarter. Drucker Wealth 3.0 LLC purchased a new position in Broadcom in the third quarter valued at about $233,000. Finally, Executive Wealth Management LLC raised its holdings in Broadcom by 3,892.6% in the third quarter. Executive Wealth Management LLC now owns 17,368 shares of the semiconductor manufacturer's stock worth $2,996,000 after purchasing an additional 16,933 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred 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 directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Broadcom Stock Up 5.6 %

NASDAQ AVGO traded up $9.64 during trading on Friday, reaching $181.94. 33,932,459 shares of the company's stock were exchanged, compared to its average volume of 31,350,544. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock has a market cap of $855.47 billion, a P/E ratio of 148.40, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a 50 day moving average price of $195.52 and a two-hundred day moving average price of $195.99.

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

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.30%. Broadcom's payout ratio is currently 113.46%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AVGO. Mizuho lowered their price target on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Truist Financial raised their price objective on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating 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 research report on Friday, March 7th. Finally, Citigroup lowered their target price on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Friday. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and an average 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.