Global Assets Advisory LLC Invests $1.12 Million in Broadcom Inc. (NASDAQ:AVGO)

Global Assets Advisory LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,609 shares of the semiconductor manufacturer's stock, valued at approximately $1,124,000.

Other large investors have also modified their holdings of the company. Canton Hathaway LLC purchased a new position in shares of Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at about $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom during the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. acquired a new position in Broadcom during the fourth quarter worth approximately $30,000. Finally, Sellwood Investment Partners LLC purchased a new stake in Broadcom in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 40,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $262.17, for a total transaction of $10,486,800.00. Following the sale, the chief executive officer now directly owns 974,152 shares in the company, valued at approximately $255,393,429.84. This trade represents a 3.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the transaction, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. This trade represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 301,468 shares of company stock worth $74,670,250. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $5.52 during midday trading on Thursday, hitting $270.17. The company had a trading volume of 23,540,196 shares, compared to its average volume of 29,084,360. The firm has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 101.19, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $271.62. The business has a 50-day simple moving average of $225.48 and a two-hundred day simple moving average of $213.98. 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 posted its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the firm earned $10.96 EPS. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom announced that its board has initiated a share 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 reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.87%. Broadcom's payout ratio is currently 88.39%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent research reports. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Wall Street Zen downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Sunday, June 15th. Cowen restated a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Morgan Stanley upped their target price on shares of Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $281.25.

Broadcom Company 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.