Keyvantage Wealth LLC Takes Position in Broadcom Inc. (NASDAQ:AVGO)

Keyvantage Wealth LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,583 shares of the semiconductor manufacturer's stock, valued at approximately $599,000.

Several other large investors also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC bought a new position in Broadcom in the fourth quarter valued at $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom during the 4th quarter valued at about $26,000. Sellwood Investment Partners LLC purchased a new position in shares of Broadcom during the 4th quarter valued at about $32,000. Bellevue Asset Management LLC bought a new stake in Broadcom in the 4th quarter worth approximately $33,000. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom in the fourth quarter worth approximately $35,000. Institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the transaction, the director now owns 25,380 shares of the company's stock, valued at $4,695,300. The trade was a 3.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 719,776 shares of company stock valued at $131,065,542 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of Broadcom stock opened at $176.88 on Thursday. Broadcom Inc. has a 12 month low of $122.33 and a 12 month high of $251.88. The firm has a market capitalization of $831.69 billion, a P/E ratio of 144.28, a P/E/G ratio of 2.29 and a beta of 1.05. The business has a fifty day simple moving average of $185.99 and a two-hundred day simple moving average of $195.85. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom declared that its Board of Directors has initiated a stock repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.33%. Broadcom's payout ratio is 113.46%.

Wall Street Analyst Weigh In

AVGO has been the topic of several research reports. Rosenblatt Securities reissued a "buy" rating and set a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. 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. Bank of America reduced their price objective on Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. William Blair reissued an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Barclays reduced their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.

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