Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Capital Market Strategies LLC

Capital Market Strategies LLC cut its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,616 shares of the semiconductor manufacturer's stock after selling 1,344 shares during the quarter. Broadcom makes up approximately 0.7% of Capital Market Strategies LLC's investment portfolio, making the stock its 29th largest position. Capital Market Strategies LLC's holdings in Broadcom were worth $1,108,000 at the end of the most recent reporting period.

• Intel's Loss Is Broadcom's Gain as AVGO Dominates Networking

Other institutional investors and hedge funds have also made changes to their positions in the company. KFA Private Wealth Group LLC lifted its holdings in Broadcom by 2.5% during the 4th 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. Marest Capital LLC increased its stake in Broadcom by 1.0% during the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer's stock worth $1,052,000 after acquiring an additional 46 shares during the period. Register Financial Advisors LLC increased its stake in shares of Broadcom by 1.3% in the 4th quarter. Register Financial Advisors LLC now owns 3,693 shares of the semiconductor manufacturer's stock valued at $856,000 after purchasing an additional 47 shares during the last quarter. SlateStone Wealth LLC increased its stake in shares of Broadcom by 0.3% in the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock valued at $3,207,000 after purchasing an additional 47 shares during the last quarter. Finally, True Wealth Design LLC increased its stake in shares of Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after purchasing an additional 48 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Up 1.1%

Shares of Broadcom stock opened at $241.97 on Friday. The stock has a market cap of $1.14 trillion, a P/E ratio of 197.37, a P/E/G ratio of 2.29 and a beta of 1.04. The stock's 50 day simple moving average is $194.36 and its 200-day simple moving average is $202.79. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $251.88. 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 Announces Dividend

• These 4 Top Investors Bought Over 6 Million Broadcom Shares in Q1

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued 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 yield of 0.98%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Broadcom announced that its Board of Directors has authorized a stock buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

• Renaissance Hedge Fund’s Biggest Q1 Buys Revealed

A number of equities research analysts recently weighed in on the company. Truist Financial boosted their price objective on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Benchmark reissued a "buy" rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Bank of America decreased their target price on Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Morgan Stanley boosted their price objective on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Finally, KeyCorp boosted their price objective on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $236.27.

Get Our Latest Report on AVGO

Insider Buying and Selling at Broadcom

In related news, 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 value of $184,152.00. Following the transaction, the director now owns 26,182 shares in the company, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the transaction, the insider now owns 465,956 shares in the company, valued at approximately $83,872,080. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 720,576 shares of company stock valued at $131,249,694. Corporate insiders own 2.00% of the company's stock.

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.

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