PharVision Advisers LLC Acquires Shares of 2,669 Broadcom Inc. (NASDAQ:AVGO)

PharVision Advisers LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,669 shares of the semiconductor manufacturer’s stock, valued at approximately $619,000. Broadcom comprises 0.5% of PharVision Advisers LLC’s holdings, making the stock its 23rd largest holding.

Several other institutional investors also recently modified their holdings of AVGO. Canton Hathaway LLC bought a new position in Broadcom in the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $26,000. Sellwood Investment Partners LLC bought a new position in Broadcom during the fourth quarter valued at about $32,000. Bellevue Asset Management LLC purchased a new stake in Broadcom during the fourth quarter worth about $33,000. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom during the fourth quarter worth about $35,000. 76.43% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Henry Samueli sold 663,976 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the sale, the director now directly owns 25,380 shares of the company’s stock, valued at approximately $4,695,300. This trade represents a 3.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Up 0.5%

AVGO stock opened at $231.68 on Wednesday. The company’s 50 day moving average is $188.62 and its 200 day moving average is $200.27. The stock has a market cap of $1.09 trillion, a price-to-earnings ratio of 188.97, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. 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 Inc. has a 1-year low of $128.50 and a 1-year high of $251.88.

Broadcom announced that its Board of Directors has initiated a stock buyback program on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Analyst Ratings Changes

A number of research analysts have weighed in on AVGO shares. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Seaport Res Ptn upgraded Broadcom to a “strong-buy” rating in a research note on Wednesday, April 30th. Barclays decreased their target price on Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Finally, Morgan Stanley increased their price target on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.