Broadcom Inc. (NASDAQ:AVGO) Shares Sold by 1834 Investment Advisors Co.

Key Points

• 1834 Investment Advisors Co. has reduced its holdings in Broadcom Inc. by 2.7%, owning 35,106 shares worth approximately $5.88 million after selling 970 shares.
• Broadcom's latest earnings report shows an EPS of $1.58 and revenue of $15 billion, with a year-over-year revenue increase of 20.2%.
• The company recently declared a quarterly dividend of $0.59 per share, with an annualized dividend yield of 0.8% and a payout ratio of 88.39%.

1834 Investment Advisors Co. reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,106 shares of the semiconductor manufacturer's stock after selling 970 shares during the period. 1834 Investment Advisors Co.'s holdings in Broadcom were worth $5,878,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AVGO. True Wealth Design LLC grew its position in Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after purchasing an additional 48 shares during the period. Fulton Breakefield Broenniman LLC lifted its stake in shares of Broadcom by 2.4% in the first quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock valued at $357,000 after buying an additional 50 shares in the last quarter. American Financial Advisors LLC lifted its stake in shares of Broadcom by 3.8% in the first quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer's stock valued at $240,000 after buying an additional 52 shares in the last quarter. GS Investments Inc. grew its holdings in shares of Broadcom by 0.5% during the first quarter. GS Investments Inc. now owns 11,397 shares of the semiconductor manufacturer's stock valued at $1,908,000 after buying an additional 52 shares during the last quarter. Finally, First Bank & Trust grew its holdings in shares of Broadcom by 1.9% during the first quarter. First Bank & Trust now owns 2,945 shares of the semiconductor manufacturer's stock valued at $493,000 after buying an additional 55 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target for the company in a report on Tuesday, June 24th. Bank of America raised their price objective on Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Arete Research raised shares of Broadcom to a "strong-buy" rating in a report on Monday, July 28th. Finally, Cowen reissued a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and a consensus price target of $294.92.

Broadcom Trading Up 0.4%

Shares of Broadcom stock traded up $1.21 on Friday, hitting $304.97. 12,439,353 shares of the company traded hands, compared to its average volume of 17,052,154. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The stock's 50 day moving average price is $271.57 and its 200-day moving average price is $226.37. The company has a market cap of $1.43 trillion, a PE ratio of 114.22, a PEG ratio of 2.16 and a beta of 1.15. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $310.34.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period in the previous year, the company posted $10.96 EPS. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. Equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were paid a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. Broadcom's dividend payout ratio (DPR) is 88.39%.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the sale, the insider directly owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the transaction, the chief executive officer directly owned 1,014,152 shares of the company's stock, valued at approximately $256,489,182.32. This trade represents a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock worth $217,224,641 over the last three months. Corporate insiders own 2.00% of the company's stock.

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.