OneDigital Investment Advisors LLC Sells 7,477 Shares of Broadcom Inc. (NASDAQ:AVGO)

OneDigital Investment Advisors LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,284 shares of the semiconductor manufacturer's stock after selling 7,477 shares during the period. OneDigital Investment Advisors LLC's holdings in Broadcom were worth $22,786,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new position in Broadcom in the 4th quarter valued at $26,000. Sellwood Investment Partners LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at $32,000. Bellevue Asset Management LLC bought a new stake in shares of Broadcom during the fourth quarter worth $33,000. Finally, Synergy Investment Management LLC acquired a new position in shares of Broadcom during the fourth quarter valued at $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Justine Page sold 800 shares of the business's stock in a transaction on 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 directly owns 25,380 shares in the company, valued at approximately $4,695,300. The trade was a 3.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 719,776 shares of company stock valued at $131,065,542 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on AVGO. Mizuho lowered their price objective on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Citigroup dropped their price target on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, April 11th. KeyCorp raised their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Finally, Barclays cut their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research note on Tuesday. Three 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, Broadcom currently has an average rating of "Moderate Buy" and a consensus target price of $229.48.

Broadcom Stock Up 6.4 %

Shares of NASDAQ AVGO traded up $11.24 during mid-day trading on Thursday, hitting $188.15. The company had a trading volume of 27,491,846 shares, compared to its average volume of 31,276,061. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm has a 50-day simple moving average of $185.99 and a two-hundred day simple moving average of $195.85. The company has a market capitalization of $884.67 billion, a PE ratio of 153.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a one year low of $122.33 and a one year high of $251.88.

Broadcom announced that its board has initiated a stock 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 reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a $0.59 dividend. 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 1.25%. Broadcom's dividend payout ratio is 113.46%.

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.