Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Freedom Investment Management Inc.

Freedom Investment Management Inc. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,673 shares of the semiconductor manufacturer’s stock after acquiring an additional 531 shares during the period. Freedom Investment Management Inc.’s holdings in Broadcom were worth $2,243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Howard Capital Management Group LLC raised its stake in shares of Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after purchasing an additional 2,908 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after acquiring an additional 6,540,800 shares during the period. Invst LLC boosted its holdings in shares of Broadcom by 928.6% in the 3rd quarter. Invst LLC now owns 3,024 shares of the semiconductor manufacturer’s stock valued at $522,000 after acquiring an additional 2,730 shares during the last quarter. McIlrath & Eck LLC increased its stake in shares of Broadcom by 793.3% in the third quarter. McIlrath & Eck LLC now owns 402 shares of the semiconductor manufacturer’s stock worth $69,000 after acquiring an additional 357 shares during the period. Finally, Passumpsic Savings Bank raised its holdings in shares of Broadcom by 900.9% during the third quarter. Passumpsic Savings Bank now owns 15,904 shares of the semiconductor manufacturer’s stock worth $2,743,000 after purchasing an additional 14,315 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 2.1 %

Broadcom stock opened at $170.99 on Friday. The stock’s fifty day simple moving average is $191.12 and its 200-day simple moving average is $195.87. The firm has a market capitalization of $803.99 billion, a P/E ratio of 139.47, a P/E/G ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a twelve month low of $119.76 and a twelve month 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.

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

Broadcom Dividend Announcement

The business also recently declared 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 of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.38%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction on Monday, March 24th. The shares were 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 $95,564,585.40. This represents a 5.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 719,776 shares of company stock worth $131,065,542 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AVGO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Bank of America reduced their price target on Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday. Truist Financial upped their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $231.28.

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.