Bison Wealth LLC Sells 14,328 Shares of Broadcom Inc. (NASDAQ:AVGO)

Bison Wealth LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 47.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,700 shares of the semiconductor manufacturer’s stock after selling 14,328 shares during the quarter. Broadcom comprises 0.8% of Bison Wealth LLC’s holdings, making the stock its 29th largest holding. Bison Wealth LLC’s holdings in Broadcom were worth $3,640,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AVGO. Vanguard Group Inc. grew its holdings in shares of Broadcom by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock valued at $110,155,206,000 after buying an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC lifted its position in Broadcom by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock valued at $23,647,209,000 after acquiring an additional 3,018,294 shares in the last quarter. FMR LLC boosted its stake in Broadcom by 3.2% during the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer’s stock valued at $21,624,718,000 after purchasing an additional 2,873,809 shares during the last quarter. Norges Bank bought a new stake in Broadcom during the 4th quarter worth approximately $16,893,010,000. Finally, Northern Trust Corp raised its stake in shares of Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer’s stock worth $11,380,411,000 after purchasing an additional 5,258,925 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction that occurred 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 directly owns 490,956 shares in the company, valued at $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 SEC, 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 transaction of $148,000.00. Following the completion of the transaction, the director now directly owns 25,380 shares in the company, valued at $4,695,300. The trade was a 3.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 719,776 shares of company stock valued at $131,065,542. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.7 %

AVGO stock opened at $191.17 on Wednesday. The stock has a 50-day simple moving average of $182.92 and a two-hundred day simple moving average of $196.21. Broadcom Inc. has a twelve month low of $122.33 and a twelve month high of $251.88. The firm has a market capitalization of $898.87 billion, a PE ratio of 155.93, a PEG ratio of 2.29 and a beta of 1.05. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom declared that its board has approved a share buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were paid a dividend of $0.59 per share. 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 is currently 113.46%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AVGO shares. Truist Financial lifted their target price on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Citigroup reduced their target price on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. Mizuho reduced their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Finally, Bank of America decreased their price objective on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.