Quantinno Capital Management LP Purchases 100,397 Shares of Broadcom Inc. (NASDAQ:AVGO)

Quantinno Capital Management LP grew its position in Broadcom Inc. (NASDAQ:AVGO) by 27.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 467,295 shares of the semiconductor manufacturer’s stock after buying an additional 100,397 shares during the period. Broadcom makes up 1.1% of Quantinno Capital Management LP’s portfolio, making the stock its 10th largest position. Quantinno Capital Management LP’s holdings in Broadcom were worth $108,338,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC grew its holdings in shares of Broadcom by 3.0% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 13,309 shares of the semiconductor manufacturer’s stock worth $3,086,000 after purchasing an additional 386 shares in the last quarter. RMR Wealth Builders grew its stake in Broadcom by 1.0% during the fourth quarter. RMR Wealth Builders now owns 70,370 shares of the semiconductor manufacturer’s stock worth $16,315,000 after purchasing an additional 676 shares during the period. Brookstone Capital Management boosted its position in shares of Broadcom by 0.5% during the 4th quarter. Brookstone Capital Management now owns 39,007 shares of the semiconductor manufacturer’s stock worth $9,043,000 after purchasing an additional 204 shares in the last quarter. Accelerate Investment Advisors LLC lifted its stake in shares of Broadcom by 58.7% in the fourth quarter. Accelerate Investment Advisors LLC now owns 2,070 shares of the semiconductor manufacturer’s stock valued at $480,000 after buying an additional 766 shares in the last quarter. Finally, Bridge Creek Capital Management LLC bought a new position in Broadcom during the 4th quarter valued at $226,000. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the company’s stock in a transaction 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 sale, the director now directly owns 25,380 shares of the company’s stock, valued at approximately $4,695,300. This represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company’s stock, valued at $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 719,776 shares of company stock worth $131,065,542 in the last three months. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AVGO. William Blair reissued an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Morgan Stanley increased their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Benchmark reiterated a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Bank of America reduced their price target on Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Finally, Mizuho reduced their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $229.48.

Broadcom Stock Performance

NASDAQ:AVGO opened at $232.42 on Wednesday. The firm has a 50-day moving average price of $184.61 and a 200 day moving average price of $198.26. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88. The firm has a market capitalization of $1.09 trillion, a PE ratio of 189.58, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04.

Broadcom declared that its Board of Directors has initiated a stock buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Broadcom Dividend Announcement

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 1.02%. Broadcom’s payout ratio is currently 113.46%.

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.