Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Circle Wealth Management LLC

Circle Wealth Management LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 30.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,410 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,587 shares during the quarter. Circle Wealth Management LLC’s holdings in Broadcom were worth $4,500,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Canton Hathaway LLC acquired a new stake in Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new position in Broadcom during the 4th quarter worth $26,000. Sellwood Investment Partners LLC acquired a new stake in Broadcom in the fourth quarter worth $32,000. Bellevue Asset Management LLC bought a new stake in Broadcom in the fourth quarter valued at $33,000. Finally, Synergy Investment Management LLC acquired a new position in shares of Broadcom during the fourth quarter valued at $35,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

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

Broadcom Price Performance

Shares of Broadcom stock opened at $204.81 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market cap of $963.01 billion, a PE ratio of 167.06, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. The firm has a fifty day moving average price of $182.12 and a two-hundred day moving average price of $196.94. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $251.88.

Broadcom announced that its board has authorized a stock buyback program 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 programs are typically an indication that the company’s management believes its stock is undervalued.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s payout ratio is presently 113.46%.

Analyst Ratings Changes

Several brokerages recently weighed in on AVGO. Mizuho cut their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Barclays decreased their price objective on Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Citigroup cut their target price on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Seaport Res Ptn upgraded shares of Broadcom to a “strong-buy” rating in a report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $229.48.

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.