3,498 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Coign Capital Advisors LLC

Coign Capital Advisors LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,498 shares of the semiconductor manufacturer’s stock, valued at approximately $811,000. Broadcom makes up about 0.7% of Coign Capital Advisors LLC’s investment portfolio, making the stock its 29th largest holding.

A number of other hedge funds have also recently made changes to their positions in AVGO. Central Pacific Bank Trust Division boosted its position in Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after buying an additional 3,707 shares during the period. Wolff Financial Management LLC acquired a new position in shares of Broadcom during the fourth quarter worth $244,000. Motive Wealth Advisors increased its holdings in Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after purchasing an additional 4,209 shares during the period. Tidal Investments LLC raised its position in Broadcom by 969.3% during the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after purchasing an additional 350,485 shares during the last quarter. Finally, Franchise Capital Ltd acquired a new position in Broadcom during the 4th quarter worth about $2,017,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $172.30 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market cap of $810.15 billion, a PE ratio of 140.54, a price-to-earnings-growth ratio of 2.29 and a beta of 1.05. The stock’s fifty day simple moving average is $196.33 and its two-hundred day simple moving average is $195.94. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Broadcom announced that its Board of Directors has approved a stock repurchase program 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 programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AVGO shares. Bank of America raised their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Benchmark restated a “buy” rating and issued a $255.00 target price on shares of Broadcom in a report on Friday, March 7th. Finally, KeyCorp increased their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction on 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 transaction, the director now owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares of the company’s stock, valued at approximately $95,564,585.40. This represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.