Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,623 shares of the semiconductor manufacturer’s stock after selling 177 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Broadcom were worth $840,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Canton Hathaway LLC purchased a new position in Broadcom in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom in the fourth quarter valued at $26,000. Sellwood Investment Partners LLC acquired a new position in shares of Broadcom during the 4th quarter worth $32,000. Bellevue Asset Management LLC purchased a new stake in shares of Broadcom in the 4th quarter worth about $33,000. Finally, Synergy Investment Management LLC acquired a new stake in Broadcom in the 4th quarter valued at about $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $191.17 on Wednesday. The business’s 50-day simple moving average is $182.92 and its 200 day simple moving average is $196.21. The company has a market cap of $898.87 billion, a P/E ratio of 155.93, a PEG ratio of 2.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a one year low of $122.33 and a one year high of $251.88.

Broadcom declared that its Board of Directors has initiated a share buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are often a sign 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. Stockholders of record on Thursday, March 20th were given a dividend of $0.59 per share. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. Broadcom’s payout ratio is currently 113.46%.

Insider Activity

In other Broadcom news, Director Justine Page sold 800 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the transaction, the director now owns 25,380 shares in the company, valued at approximately $4,695,300. This represents a 3.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the sale, the insider now directly owns 465,956 shares in the company, valued at approximately $83,872,080. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 719,776 shares of company stock worth $131,065,542. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of research reports. Morgan Stanley lifted their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Truist Financial upped their target price on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. KeyCorp increased their price objective on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $229.48.

Broadcom 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.