Freedom Together Foundation Sells 5,700 Shares of Broadcom Inc. (NASDAQ:AVGO)

Freedom Together Foundation reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 76.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,740 shares of the semiconductor manufacturer’s stock after selling 5,700 shares during the period. Broadcom makes up approximately 0.0% of Freedom Together Foundation’s investment portfolio, making the stock its 20th biggest position. Freedom Together Foundation’s holdings in Broadcom were worth $403,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AVGO. Full Sail Capital LLC increased its holdings in Broadcom by 8.9% in the 4th quarter. Full Sail Capital LLC now owns 3,179 shares of the semiconductor manufacturer’s stock valued at $737,000 after buying an additional 259 shares during the period. Fullerton Fund Management Co Ltd. increased its stake in Broadcom by 45.7% in the fourth quarter. Fullerton Fund Management Co Ltd. now owns 201,574 shares of the semiconductor manufacturer’s stock valued at $46,733,000 after acquiring an additional 63,203 shares during the last quarter. Ethic Inc. increased its stake in Broadcom by 1,138.6% in the fourth quarter. Ethic Inc. now owns 319,030 shares of the semiconductor manufacturer’s stock valued at $73,964,000 after acquiring an additional 293,272 shares during the last quarter. Circle Wealth Management LLC lifted its stake in Broadcom by 30.9% during the fourth quarter. Circle Wealth Management LLC now owns 19,410 shares of the semiconductor manufacturer’s stock worth $4,500,000 after purchasing an additional 4,587 shares during the last quarter. Finally, Clear Street Derivatives LLC boosted its holdings in shares of Broadcom by 342.2% in the 4th quarter. Clear Street Derivatives LLC now owns 107,900 shares of the semiconductor manufacturer’s stock valued at $25,016,000 after purchasing an additional 83,500 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 0.2 %

NASDAQ AVGO opened at $208.26 on Friday. The stock has a market capitalization of $979.23 billion, a P/E ratio of 169.87, a P/E/G ratio of 2.29 and a beta of 1.04. The business has a 50 day simple moving average of $182.95 and a 200 day simple moving average of $197.33. 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 one year low of $128.50 and a one year high of $251.88.

Broadcom announced that its Board of Directors has approved a share buyback plan on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is 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 $0.59 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.13%. Broadcom’s dividend payout ratio is currently 113.46%.

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justine Page sold 800 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the transaction, the director now directly owns 25,380 shares in the company, valued at approximately $4,695,300. This trade represents a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 719,776 shares of company stock worth $131,065,542 in the last quarter. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AVGO shares. Bank of America reduced their price objective on Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Mizuho dropped 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. Citigroup cut their target price on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Finally, Truist Financial upped their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Three 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $229.48.

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.