Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,004,411 shares of the semiconductor manufacturer's stock after purchasing an additional 46,637 shares during the quarter. Broadcom comprises 1.4% of NewEdge Advisors LLC's portfolio, making the stock its 8th largest holding. NewEdge Advisors LLC's holdings in Broadcom were worth $232,862,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. KFA Private Wealth Group LLC increased its position in Broadcom by 2.5% during the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer's stock valued at $407,000 after purchasing an additional 42 shares during the period. Dakota Community Bank & Trust NA increased its position in shares of Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer's stock valued at $391,000 after buying an additional 45 shares during the period. Bryant Woods Investment Advisors LLC raised its stake in Broadcom by 3.5% in the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer's stock worth $305,000 after buying an additional 45 shares in the last quarter. Marest Capital LLC lifted its holdings in Broadcom by 1.0% in the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock worth $1,052,000 after buying an additional 46 shares during the period. Finally, Defined Wealth Management LLC boosted its position in Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock valued at $2,947,000 after acquiring an additional 47 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Down 2.1 %

Shares of Broadcom stock traded down $3.62 during trading on Friday, hitting $170.99. The stock had a trading volume of 22,452,143 shares, compared to its average volume of 31,367,663. The stock has a market cap of $803.99 billion, a PE ratio of 139.47, a PEG ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The firm's fifty day simple moving average is $191.12 and its 200-day simple moving average is $195.87. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom announced that its board has authorized a share repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are 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 paid 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 dividend yield of 1.38%. Broadcom's dividend payout ratio is 113.46%.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the transaction, the insider now owns 465,956 shares of the company's stock, valued at approximately $83,872,080. This represents a 5.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 719,776 shares of company stock valued at $131,065,542. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on AVGO shares. 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. Truist Financial boosted their target price on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a report on Friday, March 7th. Morgan Stanley boosted their price objective on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Bank of America lowered their price objective on Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, KeyCorp lifted their price target on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research report 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 stock. Based on data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and an average target price of $231.28.

About Broadcom

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.