2,740 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by North Capital Inc.

North Capital Inc. purchased a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,740 shares of the semiconductor manufacturer's stock, valued at approximately $459,000. Broadcom accounts for 0.4% of North Capital Inc.'s investment portfolio, making the stock its 29th largest position.

A number of other hedge funds also recently modified their holdings of AVGO. Rialto Wealth Management LLC acquired a new stake in Broadcom in the fourth quarter valued at about $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom during the fourth quarter valued at about $28,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom during the fourth quarter valued at about $30,000. Sellwood Investment Partners LLC acquired a new stake in shares of Broadcom during the fourth quarter valued at about $32,000. Finally, Bellevue Asset Management LLC acquired a new stake in shares of Broadcom during the fourth quarter valued at about $33,000. Institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AVGO. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Oppenheimer lifted their price target on Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Cowen reissued a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, June 6th. Finally, Benchmark lifted their price objective on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Two analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Broadcom presently has a consensus rating of "Buy" and an average target price of $281.46.

Broadcom Trading Up 1.8%

NASDAQ AVGO opened at $274.87 on Friday. The company has a market cap of $1.29 trillion, a price-to-earnings ratio of 102.95, a P/E/G ratio of 1.92 and a beta of 1.12. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $277.71. The business has a 50 day moving average price of $237.12 and a 200-day moving average price of $216.98. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.96 earnings per share. As a group, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.86%. Broadcom's dividend payout ratio is 88.39%.

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

Insider Activity

In related news, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction that occurred on 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 transaction, the insider owned 415,956 shares of the company's stock, valued at $105,353,335.68. The trade was a 10.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kirsten M. Spears sold 36,350 shares of Broadcom stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total value of $9,497,164.50. Following the transaction, the chief financial officer directly owned 325,587 shares in the company, valued at approximately $85,066,115.49. The trade was a 10.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 854,716 shares of company stock valued at $221,433,761. 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.

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