941 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Arrowroot Family Office LLC

Arrowroot Family Office LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, HoldingsChannel.com reports. The firm bought 941 shares of the semiconductor manufacturer’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also bought and sold shares of AVGO. Aspire Growth Partners LLC purchased a new stake in shares of Broadcom during the 4th quarter worth $800,000. Albar Capital Partners LLP purchased a new stake in shares of Broadcom during the fourth quarter valued at about $5,419,000. Allegheny Financial Group boosted its holdings in shares of Broadcom by 0.6% in the 4th quarter. Allegheny Financial Group now owns 10,006 shares of the semiconductor manufacturer’s stock valued at $2,320,000 after buying an additional 59 shares in the last quarter. 1248 Management LLC purchased a new position in shares of Broadcom in the 4th quarter worth approximately $351,000. Finally, 3G Capital Partners LP bought a new position in shares of Broadcom during the 4th quarter worth approximately $16,229,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock worth $131,065,542 in the last three months. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Benchmark reaffirmed a “buy” rating and issued a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. KeyCorp boosted their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Finally, Seaport Res Ptn upgraded shares of Broadcom to a “strong-buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $229.48.

Broadcom Stock Up 3.2 %

AVGO stock opened at $203.64 on Friday. The company has a market cap of $957.50 billion, a price-to-earnings ratio of 166.10, a PEG ratio of 2.29 and a beta of 1.05. The firm has a 50-day moving average of $182.21 and a two-hundred day moving average of $196.48. Broadcom Inc. has a 12 month low of $124.71 and a 12 month high of $251.88. 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 has approved 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 buy 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.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

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.