MJP Associates Inc. ADV Purchases 77 Shares of Broadcom Inc. (NASDAQ:AVGO)

MJP Associates Inc. ADV increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,247 shares of the semiconductor manufacturer’s stock after acquiring an additional 77 shares during the quarter. MJP Associates Inc. ADV’s holdings in Broadcom were worth $1,448,000 at the end of the most recent quarter.

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

Insider Transactions at Broadcom

In related news, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the sale, the director now directly owns 25,380 shares in the company, valued at $4,695,300. The trade was a 3.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company’s stock, valued at $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. Insiders sold 719,776 shares of company stock valued at $131,065,542 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Up 0.2%

Shares of NASDAQ:AVGO opened at $208.26 on Monday. Broadcom Inc. has a 52-week low of $128.50 and a 52-week 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 business has a fifty day moving average of $182.95 and a two-hundred day moving average of $197.68. The stock has a market cap of $979.23 billion, a P/E ratio of 169.87, a PEG ratio of 2.29 and a beta of 1.04.

Broadcom declared that its board has authorized a stock buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Broadcom Announces Dividend

The firm also recently declared 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 of this dividend was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.13%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AVGO. Mizuho reduced their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Benchmark restated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Finally, Citigroup cut their price target on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average 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.