Abel Hall LLC Has $905,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Abel Hall LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 21.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,407 shares of the semiconductor manufacturer's stock after selling 1,435 shares during the quarter. Broadcom makes up approximately 0.5% of Abel Hall LLC's holdings, making the stock its 28th biggest holding. Abel Hall LLC's holdings in Broadcom were worth $905,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in Broadcom by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after purchasing an additional 3,018,294 shares during the period. FMR LLC lifted its position in Broadcom by 3.2% in the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after buying an additional 2,873,809 shares during the last quarter. Norges Bank bought a new stake in Broadcom in the fourth quarter valued at approximately $16,893,010,000. Northern Trust Corp increased its stake in shares of Broadcom by 12.0% during the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after buying an additional 5,258,925 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock worth $11,018,089,000 after purchasing an additional 15,171,849 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In related news, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total value of $9,497,164.50. Following the completion of the sale, the chief financial officer directly owned 325,587 shares of the company's stock, valued at approximately $85,066,115.49. This represents a 10.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the sale, the director directly owned 33,352 shares in the company, valued at $8,842,615.76. The trade was a 8.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 830,516 shares of company stock worth $217,224,641. Company insiders own 2.00% of the company's stock.

Broadcom Trading Down 5.0%

NASDAQ AVGO opened at $273.91 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The company has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 104.34, a price-to-earnings-growth ratio of 2.05 and a beta of 1.12. The company's 50-day simple moving average is $254.41 and its two-hundred day simple moving average is $220.17. Broadcom Inc. has a one year low of $128.50 and a one year high of $290.54.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same period in the previous year, the business posted $10.96 EPS. The business's quarterly revenue was up 20.2% compared to the same quarter last year. Equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom declared that its board has authorized a share repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its shares are undervalued.

Broadcom Dividend Announcement

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. This represents a $2.36 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, June 20th. Broadcom's payout ratio is 88.39%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Oppenheimer raised their price objective on Broadcom from $265.00 to $305.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Mizuho raised their price target on Broadcom from $315.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Barclays raised their price target on Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Finally, Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $292.08.

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.

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