JT Stratford LLC Has $1.74 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

JT Stratford LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,505 shares of the semiconductor manufacturer’s stock after buying an additional 467 shares during the quarter. JT Stratford LLC’s holdings in Broadcom were worth $1,740,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVGO. KFA Private Wealth Group LLC increased its position in Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after purchasing an additional 42 shares during the period. Bryant Woods Investment Advisors LLC increased its position in Broadcom by 3.5% in the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after purchasing an additional 45 shares during the period. Marest Capital LLC increased its position in Broadcom by 1.0% in the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after purchasing an additional 46 shares during the period. Register Financial Advisors LLC increased its position in Broadcom by 1.3% in the fourth quarter. Register Financial Advisors LLC now owns 3,693 shares of the semiconductor manufacturer’s stock worth $856,000 after purchasing an additional 47 shares during the period. Finally, SlateStone Wealth LLC increased its position in Broadcom by 0.3% in the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer’s stock worth $3,207,000 after purchasing an additional 47 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justine Page sold 800 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now owns 25,380 shares in the company, 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. Insiders have sold a total of 720,576 shares of company stock worth $131,249,694 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.8%

Shares of Broadcom stock opened at $229.73 on Thursday. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88. The stock has a market cap of $1.08 trillion, a P/E ratio of 187.38, a P/E/G 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. The business’s 50 day moving average is $189.30 and its 200-day moving average is $200.47.

Broadcom announced that its board has authorized a share repurchase 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 often an indication that the company’s management believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AVGO shares. KeyCorp lifted their price objective on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Benchmark reiterated a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Citigroup decreased their target price on Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Finally, Truist Financial boosted their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report 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 assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $229.48.

Broadcom 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.