Strategies Wealth Advisors LLC Invests $429,000 in Broadcom Inc. (NASDAQ:AVGO)

Strategies Wealth Advisors LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,817 shares of the semiconductor manufacturer’s stock, valued at approximately $429,000.

Other hedge funds have also recently bought and sold shares of the company. KFA Private Wealth Group LLC boosted 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 purchasing an additional 42 shares during the last quarter. Dakota Community Bank & Trust NA lifted its position in 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 during the period. Bryant Woods Investment Advisors LLC boosted its stake in Broadcom by 3.5% in the 4th 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 during the last quarter. Marest Capital LLC grew its holdings in Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after buying an additional 46 shares during the period. Finally, Defined Wealth Management LLC increased its stake in shares of Broadcom by 0.4% during the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 5.6 %

Shares of Broadcom stock opened at $181.94 on Monday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a market capitalization of $855.47 billion, a P/E ratio of 148.40, a PEG ratio of 2.29 and a beta of 1.05. The business’s fifty day moving average price is $195.52 and its two-hundred day moving average price is $196.11. 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 declared that its board has authorized a stock repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Broadcom Announces Dividend

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 dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.30%. Broadcom’s dividend payout ratio is currently 113.46%.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated 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. This represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction dated 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 transaction, 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. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

AVGO has been the subject of a number of recent analyst reports. KeyCorp boosted their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Mizuho lowered their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Morgan Stanley increased their target price on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Truist Financial boosted their price target on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Finally, Citigroup reduced their price objective on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.68.

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.