Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 3.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 515,388 shares of the semiconductor manufacturer’s stock after buying an additional 18,845 shares during the period. Broadcom makes up 1.3% of Banco Bilbao Vizcaya Argentaria S.A.’s holdings, making the stock its 13th biggest holding. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Broadcom were worth $120,070,000 as of its most recent SEC filing.

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

Broadcom Stock Up 4.3 %

Shares of AVGO opened at $176.88 on Thursday. The stock has a 50 day moving average price of $185.99 and a 200 day moving average price of $195.85. Broadcom Inc. has a one year low of $122.33 and a one year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market capitalization of $831.69 billion, a price-to-earnings ratio of 144.28, a PEG ratio of 2.29 and a beta of 1.05.

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

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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 1.33%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $180.00, for a total transaction 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 trade represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the transaction, the director now directly owns 25,380 shares in the company, valued at $4,695,300. This trade represents a 3.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 719,776 shares of company stock valued at $131,065,542. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AVGO. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Truist Financial boosted their target price on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Barclays cut their price target on Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a research report on Tuesday. Benchmark reissued a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Citigroup dropped their target price on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.