Van Lanschot Kempen Investment Management N.V. Purchases 39,662 Shares of Broadcom Inc. (NASDAQ:AVGO)

Van Lanschot Kempen Investment Management N.V. lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 20.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 234,090 shares of the semiconductor manufacturer's stock after acquiring an additional 39,662 shares during the quarter. Van Lanschot Kempen Investment Management N.V.'s holdings in Broadcom were worth $54,271,000 at the end of the most recent reporting period.

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

Broadcom Stock Up 4.3 %

Shares of NASDAQ AVGO traded up $7.30 during mid-day trading on Wednesday, reaching $176.88. 24,335,289 shares of the company traded hands, compared to its average volume of 31,291,031. The company's fifty day moving average is $187.11 and its two-hundred day moving average is $195.98. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a fifty-two week low of $122.33 and a fifty-two week high of $251.88. The stock has a market cap of $831.69 billion, a PE ratio of 144.28, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05.

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

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors 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 1.33%. Broadcom's payout ratio is presently 113.46%.

Insiders Place Their Bets

In other news, Director Justine Page sold 800 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 25,380 shares in the company, valued at $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 can be accessed through 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 transaction of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76 % decrease in their position. 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 in the last quarter. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on AVGO shares. Truist Financial lifted their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Citigroup cut their target price on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Barclays lowered their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Morgan Stanley increased their price objective on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.