66,449 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 66,449 shares of the semiconductor manufacturer's stock, valued at approximately $15,405,000.

A number of other hedge funds have also recently made changes to their positions in AVGO. Norges Bank bought a new stake in shares of Broadcom in the fourth quarter worth approximately $16,893,010,000. Franklin Resources Inc. grew its holdings in shares of Broadcom by 1,114.6% in the third quarter. Franklin Resources Inc. now owns 21,113,921 shares of the semiconductor manufacturer's stock worth $3,849,270,000 after acquiring an additional 19,375,547 shares during the period. GQG Partners LLC increased its position in shares of Broadcom by 200.0% during the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock valued at $2,367,819,000 after purchasing an additional 6,809,245 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after buying an additional 6,573,204 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Broadcom by 1,019.4% during the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock valued at $1,238,966,000 after buying an additional 6,540,800 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 719,776 shares of company stock valued at $131,065,542. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Mizuho reduced their price objective on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. KeyCorp lifted their target price 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. Benchmark restated a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Finally, Citigroup cut their target price on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $231.28.

Broadcom Trading Down 1.4 %

Shares of AVGO traded down $2.39 during trading hours on Thursday, reaching $172.22. 12,298,533 shares of the company traded hands, compared to its average volume of 32,563,371. The stock's fifty day moving average price is $192.40 and its 200 day moving average price is $195.88. 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 market cap of $809.78 billion, a price-to-earnings ratio of 140.38, 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.

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

Broadcom Announces Dividend

The business also recently announced 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 was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.37%. Broadcom's dividend payout ratio is currently 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.