Broadcom Inc. (NASDAQ:AVGO) Holdings Trimmed by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 267,200 shares of the semiconductor manufacturer's stock after selling 17,000 shares during the period. Broadcom comprises 1.8% of Adams Diversified Equity Fund Inc.'s portfolio, making the stock its 10th biggest holding. Adams Diversified Equity Fund Inc.'s holdings in Broadcom were worth $44,737,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Riverbend Wealth Management LLC boosted its stake in shares of Broadcom by 10.1% during the 1st quarter. Riverbend Wealth Management LLC now owns 11,105 shares of the semiconductor manufacturer's stock worth $1,859,000 after acquiring an additional 1,016 shares during the last quarter. Daymark Wealth Partners LLC raised its holdings in Broadcom by 10.2% in the 1st quarter. Daymark Wealth Partners LLC now owns 149,218 shares of the semiconductor manufacturer's stock worth $24,984,000 after purchasing an additional 13,833 shares during the period. Lecap Asset Management Ltd. purchased a new position in Broadcom during the first quarter valued at $2,800,000. Mattern Wealth Management LLC grew its holdings in Broadcom by 5.2% during the first quarter. Mattern Wealth Management LLC now owns 31,119 shares of the semiconductor manufacturer's stock valued at $5,210,000 after purchasing an additional 1,540 shares during the period. Finally, Global Assets Advisory LLC purchased a new stake in Broadcom in the first quarter worth about $1,124,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of AVGO stock traded down $0.82 on Friday, reaching $269.35. The company's stock had a trading volume of 27,450,264 shares, compared to its average volume of 29,072,842. The stock's fifty day simple moving average is $227.46 and its 200-day simple moving average is $214.61. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $273.09. The company has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 100.88, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 22.64% and a return on equity of 35.49%. The firm's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm earned $10.96 EPS. Analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom declared that its board has approved a share repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows 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 board believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, June 20th. Broadcom's payout ratio is 88.39%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the sale, the insider now owns 465,956 shares in the company, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director now directly owns 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 811,716 shares of company stock worth $209,906,771. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Oppenheimer increased their price objective on shares of Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. UBS Group lifted their target price on shares of Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Susquehanna upped their target price on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a report on Friday, June 6th. Finally, Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Two research 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 currently has a consensus rating of "Buy" and a consensus price target of $281.25.

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.