White Knight Strategic Wealth Advisors LLC Purchases 3,820 Shares of Broadcom Inc. (NASDAQ:AVGO)

White Knight Strategic Wealth Advisors LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 100.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,640 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,820 shares during the quarter. Broadcom accounts for 0.7% of White Knight Strategic Wealth Advisors LLC’s investment portfolio, making the stock its 28th largest holding. White Knight Strategic Wealth Advisors LLC’s holdings in Broadcom were worth $1,771,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AVGO. Norges Bank acquired a new stake in shares of Broadcom in the 4th quarter worth about $16,893,010,000. Price T Rowe Associates Inc. MD raised its stake in shares of Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer’s stock worth $11,018,089,000 after purchasing an additional 15,171,849 shares during the last quarter. GQG Partners LLC raised its stake in shares of Broadcom by 200.0% in the fourth quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer’s stock worth $2,367,819,000 after purchasing an additional 6,809,245 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock valued at $110,155,206,000 after purchasing an additional 6,573,204 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Broadcom by 27.4% during the fourth quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer’s stock valued at $6,236,011,000 after buying an additional 5,783,988 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Up 0.9%

Shares of AVGO opened at $230.63 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $251.88. The company has a market capitalization of $1.08 trillion, a P/E ratio of 188.12, a P/E/G ratio of 2.29 and a beta of 1.04. The firm’s 50 day simple moving average is $187.81 and its 200 day simple moving average is $200.05.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors 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 dividend on an annualized basis and a yield of 1.02%. Broadcom’s dividend payout ratio is presently 113.46%.

Broadcom declared that its board has initiated a stock repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. William Blair reissued an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Citigroup reduced their price objective on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Bank of America dropped their target price on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Finally, Benchmark reaffirmed a “buy” rating and issued a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. 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 stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $229.48.

Insider Activity at Broadcom

In related 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 value of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The sale was disclosed in a document filed 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 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 completion of the transaction, the director now owns 26,182 shares in the company, valued at approximately $6,026,834.58. The trade was a 2.96% 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 valued at $131,249,694 over the last 90 days. 2.00% of the stock is owned by insiders.

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.