Capital Square LLC Has $426,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Capital Square LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 9.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,741 shares of the semiconductor manufacturer’s stock after buying an additional 153 shares during the quarter. Capital Square LLC’s holdings in Broadcom were worth $426,000 at the end of the most recent quarter.

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

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction 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 completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the firm’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now directly owns 25,380 shares of the company’s stock, valued at $4,695,300. The trade was a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 719,776 shares of company stock valued at $131,065,542. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Bank of America decreased their price target on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday. Truist Financial boosted their price target on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a report on Friday, March 7th. Benchmark reiterated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Morgan Stanley lifted their price target on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Mizuho dropped their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.28.

Broadcom Stock Performance

NASDAQ AVGO opened at $174.61 on Thursday. The company’s fifty day moving average is $192.40 and its two-hundred day moving average is $195.88. Broadcom Inc. has a 52-week low of $119.76 and a 52-week 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 firm has a market capitalization of $821.01 billion, a price-to-earnings ratio of 142.42, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom announced that its Board of Directors has approved a stock buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given 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 1.35%. Broadcom’s dividend payout ratio is currently 113.46%.

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.