Pathstone Holdings LLC Buys 4,867 Shares of Broadcom Inc. (NASDAQ:AVGO)

Pathstone Holdings LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 470,660 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,867 shares during the period. Broadcom accounts for about 0.5% of Pathstone Holdings LLC’s holdings, making the stock its 29th biggest holding. Pathstone Holdings LLC’s holdings in Broadcom were worth $109,143,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Canton Hathaway LLC bought a new stake in shares of Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom during the fourth quarter worth $26,000. Sellwood Investment Partners LLC bought a new stake in Broadcom during the fourth quarter worth $32,000. Bellevue Asset Management LLC acquired a new stake in Broadcom in the fourth quarter valued at $33,000. Finally, Synergy Investment Management LLC bought a new position in shares of Broadcom in the 4th quarter valued at about $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Up 4.9%

Shares of NASDAQ:AVGO opened at $232.42 on Wednesday. The business’s 50 day simple moving average is $184.61 and its 200 day simple moving average is $198.26. 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. The company has a market capitalization of $1.09 trillion, a P/E ratio of 189.58, a P/E/G ratio of 2.29 and a beta of 1.04.

Broadcom declared that its board has approved a share repurchase 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Insider Activity at Broadcom

In other news, Director Justine Page sold 800 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the sale, the director now owns 25,380 shares of the company’s stock, valued at approximately $4,695,300. This represents a 3.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock valued at $131,065,542 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Truist Financial upped their price objective on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. KeyCorp raised their price objective on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Barclays dropped their price target on Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently 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.