Regal Investment Advisors LLC Has $2.93 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Regal Investment Advisors LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO) by 15.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,628 shares of the semiconductor manufacturer’s stock after selling 2,224 shares during the period. Regal Investment Advisors LLC’s holdings in Broadcom were worth $2,928,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. KFA Private Wealth Group LLC grew its holdings in shares of Broadcom by 2.5% in the fourth 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 in the last quarter. Dakota Community Bank & Trust NA grew its stake in shares of Broadcom by 2.7% in the 4th 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 in the last quarter. Bryant Woods Investment Advisors LLC grew its stake in shares of Broadcom by 3.5% in the 4th 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 increased its holdings in shares of Broadcom by 1.0% in the 4th 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 last quarter. Finally, Defined Wealth Management LLC lifted its holdings in shares of Broadcom by 0.4% in 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 during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AVGO. Benchmark reissued a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Truist Financial increased their price target on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Finally, Morgan Stanley lifted their price target 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. Three equities 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $231.68.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the business’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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 465,956 shares of the company’s stock, valued at approximately $83,872,080. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 718,976 shares of company stock worth $130,917,542 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.3 %

NASDAQ AVGO opened at $178.95 on Wednesday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market capitalization of $841.41 billion, a price-to-earnings ratio of 145.96, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The company’s 50-day simple moving average is $193.40 and its two-hundred day simple moving average is $196.03.

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 paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Broadcom announced that its board has approved a share buyback plan on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.