Stifel Financial Corp Sells 23,139 Shares of Broadcom Inc. (NASDAQ:AVGO)

Stifel Financial Corp reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,984,085 shares of the semiconductor manufacturer's stock after selling 23,139 shares during the period. Broadcom makes up about 1.2% of Stifel Financial Corp's holdings, making the stock its 7th largest holding. Stifel Financial Corp owned 0.11% of Broadcom worth $1,155,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Broadcom Trading Up 6.4 %

Broadcom stock traded up $11.24 during midday trading on Thursday, hitting $188.15. 27,491,846 shares of the stock were exchanged, compared to its average volume of 31,276,061. The stock's 50-day simple moving average is $185.99 and its 200 day simple moving average is $195.85. Broadcom Inc. has a fifty-two week low of $122.33 and a fifty-two week high of $251.88. 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 stock has a market capitalization of $884.67 billion, a price-to-earnings ratio of 153.47, a PEG ratio of 2.29 and a beta of 1.05.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.25%. Broadcom's payout ratio is 113.46%.

Broadcom declared that its board has approved a stock buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. KeyCorp boosted 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. Barclays lowered their target price on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research note on Tuesday. William Blair restated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Mizuho reduced their price target on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Finally, Citigroup dropped their price objective on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to data from MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and an average target price of $229.48.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 800 shares of the company's stock in a transaction on Monday, April 14th. The stock was 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 $4,695,300. This represents a 3.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock valued at $131,065,542 over the last quarter. 2.00% of the stock is owned by insiders.

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.