Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lifted by Inspire Trust Co. N.A.

Inspire Trust Co. N.A. raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,400 shares of the semiconductor manufacturer’s stock after buying an additional 190 shares during the quarter. Broadcom comprises 2.3% of Inspire Trust Co. N.A.’s holdings, making the stock its 6th largest position. Inspire Trust Co. N.A.’s holdings in Broadcom were worth $9,134,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Canton Hathaway LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter worth about $26,000. Sellwood Investment Partners LLC purchased a new stake in Broadcom during the 4th quarter valued at about $32,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at about $33,000. Finally, Synergy Investment Management LLC purchased a new position in shares of Broadcom in the fourth quarter worth about $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on AVGO. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Seaport Res Ptn raised shares of Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Citigroup cut their price objective 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. Finally, Morgan Stanley raised their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.48.

Insider Activity

In related news, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction that occurred 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 directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henry Samueli sold 663,976 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $7,045,847,733.60. This represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock worth $131,249,694 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

Broadcom stock opened at $229.73 on Thursday. The stock has a market capitalization of $1.08 trillion, a P/E ratio of 187.38, a P/E/G ratio of 2.29 and a beta of 1.04. The company’s fifty day moving average price is $189.30 and its 200 day moving average price is $200.47. 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 1 year low of $128.50 and a 1 year high of $251.88.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 dividend yield of 1.03%. Broadcom’s dividend payout ratio (DPR) is 113.46%.

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

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.