Laird Norton Wetherby Wealth Management LLC Has $19.63 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Laird Norton Wetherby Wealth Management LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 84,660 shares of the semiconductor manufacturer’s stock after selling 3,245 shares during the quarter. Broadcom comprises approximately 0.9% of Laird Norton Wetherby Wealth Management LLC’s portfolio, making the stock its 15th largest holding. Laird Norton Wetherby Wealth Management LLC’s holdings in Broadcom were worth $19,628,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. KFA Private Wealth Group LLC increased its holdings in shares of Broadcom by 2.5% during the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after buying an additional 42 shares in the last quarter. Dakota Community Bank & Trust NA increased its holdings in shares of Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after buying an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC increased its holdings in shares of Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after buying an additional 45 shares in the last quarter. Marest Capital LLC increased its holdings in shares of Broadcom by 1.0% during the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after buying an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC increased its holdings in shares of Broadcom by 0.4% during the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now owns 465,956 shares of the company’s stock, valued at $83,872,080. The trade was a 5.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 719,776 shares of company stock valued at $131,065,542. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $208.26 on Monday. The company’s 50 day moving average is $182.95 and its 200-day moving average is $197.68. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88. 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 firm has a market cap of $979.23 billion, a P/E ratio of 169.87, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04.

Broadcom announced that its board has approved a share buyback plan 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 stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Broadcom Dividend Announcement

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 was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.13%. Broadcom’s dividend payout ratio is currently 113.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AVGO. Barclays dropped their price objective on shares of Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. KeyCorp raised their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Morgan Stanley raised their price target on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. William Blair reissued an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Finally, Mizuho lowered their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Broadcom 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.