Capital Square LLC Has $426,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Capital Square LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 9.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,741 shares of the semiconductor manufacturer’s stock after acquiring an additional 153 shares during the quarter. Capital Square LLC’s holdings in Broadcom were worth $426,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AVGO. Vanguard Group Inc. boosted its stake in Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after purchasing an additional 6,573,204 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Broadcom by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock valued at $23,647,209,000 after buying an additional 3,018,294 shares during the last quarter. FMR LLC lifted its position in Broadcom by 3.2% during the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer’s stock worth $21,624,718,000 after buying an additional 2,873,809 shares in the last quarter. Norges Bank bought a new stake in Broadcom during the 4th quarter worth about $16,893,010,000. Finally, Charles Schwab Investment Management Inc. increased its position in Broadcom by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 32,808,362 shares of the semiconductor manufacturer’s stock valued at $7,606,291,000 after acquiring an additional 810,907 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 2.4 %

NASDAQ:AVGO opened at $174.61 on Thursday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock has a 50-day moving average price of $192.40 and a two-hundred day moving average price of $195.88. The stock has a market cap of $821.01 billion, a price-to-earnings ratio of 142.42, a PEG 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 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 given a $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.35%. Broadcom’s dividend payout ratio is presently 113.46%.

Broadcom announced that its board has initiated a share buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Citigroup reduced their target price on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. KeyCorp upped their price objective on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Mizuho lowered their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Truist Financial upped their price target on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Finally, William Blair reiterated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $231.28.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 25,000 shares of the company’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares of the company’s stock, valued at $83,872,080. This represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. This represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 719,776 shares of company stock valued at $131,065,542. 2.00% of the stock is owned by corporate insiders.

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.