Algert Global LLC Buys 4,618 Shares of Broadcom Inc. $AVGO

Key Points

• Algert Global LLC increased its stake in Broadcom Inc. by 8.2%, acquiring a total of 60,976 shares valued at approximately $10.2 million.
• Notable hedge funds including Nuveen LLC and GAMMA Investing LLC made significant investments, with GAMMA increasing its position by 18,179.3%, obtaining over $2.8 billion in shares.
• Broadcom recently paid a quarterly dividend of $0.59 per share, reflecting an annual yield of 0.8% and a payout ratio of 88.39%.

Algert Global LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,976 shares of the semiconductor manufacturer's stock after acquiring an additional 4,618 shares during the period. Algert Global LLC's holdings in Broadcom were worth $10,209,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in 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 valued at $120,070,000 after buying an additional 18,845 shares during the period. PARUS FINANCE UK Ltd raised its stake in Broadcom by 175.3% in the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock valued at $16,840,000 after buying an additional 64,038 shares during the period. Nebula Research & Development LLC raised its stake in Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after buying an additional 14,399 shares during the period. Keener Financial Planning LLC raised its stake in Broadcom by 34.8% in the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after buying an additional 230 shares during the period. Finally, Diversify Wealth Management LLC raised its stake in Broadcom by 5.6% in the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after buying an additional 2,016 shares during the period. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AVGO shares. Benchmark upped their price objective on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Redburn Atlantic started coverage on shares of Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 target price for the company. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a report on Tuesday, June 24th. Finally, Arete Research raised Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $295.96.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 40,000 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $268.29, for a total value of $10,731,600.00. Following the sale, the chief executive officer owned 482,836 shares of the company's stock, valued at approximately $129,540,070.44. This trade represents a 7.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $307.46, for a total value of $245,968.00. Following the completion of the sale, the director directly owned 23,782 shares in the company, valued at approximately $7,312,013.72. This represents a 3.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

AVGO stock traded down $0.58 during midday trading on Monday, reaching $305.76. The company had a trading volume of 14,705,522 shares, compared to its average volume of 17,400,806. The company has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 114.52, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15. The stock has a 50 day moving average price of $279.50 and a 200-day moving average price of $230.48. Broadcom Inc. has a 1-year low of $134.90 and a 1-year high of $317.35. 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 posted 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 business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. Broadcom's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.96 earnings per share. Equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is currently 88.39%.

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.