Advisors Management Group Inc. ADV Has $1.93 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Advisors Management Group Inc. ADV increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 124.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,554 shares of the semiconductor manufacturer's stock after buying an additional 6,417 shares during the period. Advisors Management Group Inc. ADV's holdings in Broadcom were worth $1,934,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after buying an additional 6,573,204 shares in the last quarter. Geode Capital Management LLC grew 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 worth $23,647,209,000 after purchasing an additional 3,018,294 shares during the last quarter. FMR LLC lifted its stake in shares of Broadcom by 3.2% in the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock valued at $21,624,718,000 after purchasing an additional 2,873,809 shares during the period. Norges Bank purchased a new stake in Broadcom in the 4th quarter valued at approximately $16,893,010,000. Finally, Northern Trust Corp lifted its position in Broadcom by 12.0% during the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after buying an additional 5,258,925 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other news, 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 transaction of $795,390.00. Following the sale, the director owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. This trade represents a 8.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 36,350 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the sale, the chief financial officer directly owned 325,587 shares in the company, valued at $85,066,115.49. This represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 854,716 shares of company stock worth $221,433,761. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup raised their price target on shares of Broadcom from $276.00 to $285.00 and gave the company a "buy" rating in a report on Monday, June 9th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. UBS Group raised their target price on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a report on Friday, June 6th. Oppenheimer boosted their price objective on Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Finally, Cowen reissued a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Two analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Broadcom has a consensus rating of "Buy" and an average price target of $281.46.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $4.90 during trading on Thursday, reaching $274.80. The company had a trading volume of 5,311,096 shares, compared to its average volume of 28,667,494. The firm has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 102.99, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12. The stock's fifty day moving average price is $235.38 and its 200 day moving average price is $216.81. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $277.71. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98.

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

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

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued 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 currently 88.39%.

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.