Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Waters Parkerson & CO. LLC

Waters Parkerson & CO. LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,231 shares of the semiconductor manufacturer’s stock after acquiring an additional 331 shares during the period. Waters Parkerson & CO. LLC’s holdings in Broadcom were worth $749,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Triglav Skladi D.O.O. acquired a new stake in shares of Broadcom during the 4th quarter valued at about $29,364,000. Twinbeech Capital LP purchased a new position in Broadcom in the 4th quarter valued at about $71,514,000. Tairen Capital Ltd purchased a new position in Broadcom in the 4th quarter valued at about $440,000. Texas Bank & Trust Co purchased a new position in Broadcom in the 4th quarter valued at about $1,357,000. Finally, True Wealth Design LLC lifted its stake in Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer’s stock valued at $165,000 after buying an additional 48 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AVGO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Citigroup decreased their target price 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. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Benchmark reissued a “buy” rating and issued a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. 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 research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $229.48.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction 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 of the company’s stock, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the sale, the director now directly owns 26,182 shares of the company’s stock, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 720,576 shares of company stock worth $131,249,694 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $228.61 on Monday. The company has a fifty day simple moving average of $187.08 and a two-hundred day simple moving average of $199.61. The company has a market cap of $1.07 trillion, a price-to-earnings ratio of 186.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. 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 Inc. has a 52 week low of $128.50 and a 52 week high of $251.88.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid 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 announced that its board has initiated 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 repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

About Broadcom

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.