Owen LaRue LLC Lowers Position in Broadcom Inc. (NASDAQ:AVGO)

Owen LaRue LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,017 shares of the semiconductor manufacturer’s stock after selling 59 shares during the period. Owen LaRue LLC’s holdings in Broadcom were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Broadcom by 3.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock valued at $120,070,000 after acquiring an additional 18,845 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares during the last quarter. Wolff Financial Management LLC bought a new stake in shares of Broadcom in the fourth quarter worth about $244,000. Motive Wealth Advisors increased its holdings in shares of Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after purchasing an additional 4,209 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Broadcom by 969.3% in the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after purchasing an additional 350,485 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of Broadcom 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 owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68 % 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 business’s stock in a transaction dated 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 sale, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. The trade was a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 719,776 shares of company stock worth $131,065,542 over the last quarter. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AVGO shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Broadcom in a report on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. KeyCorp lifted their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Barclays reduced their price objective on Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Truist Financial boosted their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $229.48.

Broadcom Stock Up 0.1 %

Shares of NASDAQ AVGO opened at $192.47 on Tuesday. Broadcom Inc. has a 12-month low of $122.33 and a 12-month high of $251.88. The stock’s fifty day simple moving average is $183.64 and its two-hundred day simple moving average is $196.24. The stock has a market capitalization of $904.98 billion, a PE ratio of 156.99, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. 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 authorized a share buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Broadcom Dividend Announcement

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 of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.23%. Broadcom’s dividend payout ratio (DPR) is presently 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.