Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Accel Wealth Management

Accel Wealth Management trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 23.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,797 shares of the semiconductor manufacturer's stock after selling 2,437 shares during the period. Accel Wealth Management's holdings in Broadcom were worth $1,305,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of Broadcom by 3.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after buying an additional 18,845 shares in the last quarter. Nebula Research & Development LLC lifted its position in Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after acquiring an additional 14,399 shares in the last quarter. Destiny Wealth Partners LLC boosted its stake in Broadcom by 1,211.3% during the 4th quarter. Destiny Wealth Partners LLC now owns 27,013 shares of the semiconductor manufacturer's stock valued at $6,263,000 after purchasing an additional 24,953 shares during the last quarter. Kovack Advisors Inc. boosted its stake in Broadcom by 8.1% during the 4th quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer's stock valued at $7,971,000 after purchasing an additional 2,570 shares during the last quarter. Finally, SOA Wealth Advisors LLC. increased its holdings in shares of Broadcom by 50.6% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer's stock worth $245,000 after purchasing an additional 355 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

AVGO traded down $1.15 on Thursday, hitting $259.93. 41,745,758 shares of the company's stock traded hands, compared to its average volume of 30,922,568. The company's 50 day simple moving average is $200.31 and its 200-day simple moving average is $205.00. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.43. The firm has a market cap of $1.22 trillion, a price-to-earnings ratio of 212.02, a P/E/G ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.24). Broadcom had a net margin of 11.43% and a return on equity of 28.00%. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.91%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Broadcom announced that its board has approved a share repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AVGO. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Morgan Stanley upped their target price on shares of Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. William Blair reiterated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Citigroup boosted their price objective on shares of Broadcom from $210.00 to $276.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Mizuho raised their target price on shares of Broadcom from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Wednesday, May 28th. Three research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $246.00.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This represents a 5.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 800 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares of the company's stock, valued at $4,695,300. The trade was a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 over the last quarter. Insiders own 2.00% of the company's stock.

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.