Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Allen Capital Group LLC

Allen Capital Group LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 7,796 shares of the semiconductor manufacturer's stock after acquiring an additional 1,022 shares during the period. Allen Capital Group LLC's holdings in Broadcom were worth $1,305,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of Broadcom by 3.8% during 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 grew its holdings in shares of Broadcom by 1,100.8% during the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after buying an additional 14,399 shares in the last quarter. Diversify Wealth Management LLC grew its holdings in shares of Broadcom by 5.6% during the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after buying an additional 2,016 shares in the last quarter. OMNI 360 Wealth Inc. grew its holdings in shares of Broadcom by 51.6% during the first quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock worth $499,000 after buying an additional 1,014 shares in the last quarter. Finally, Coppell Advisory Solutions LLC grew its holdings in shares of Broadcom by 1,512.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock worth $21,660,000 after buying an additional 86,884 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 56,310 shares of Broadcom stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the completion of the transaction, the chief financial officer owned 361,937 shares of the company's stock, valued at $91,117,639.75. This represents a 13.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock valued at $217,224,641 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 1.1%

Shares of NASDAQ AVGO traded down $3.20 during midday trading on Friday, hitting $283.25. The company's stock had a trading volume of 8,763,953 shares, compared to its average volume of 27,494,299. The business's fifty day simple moving average is $252.91 and its two-hundred day simple moving average is $219.98. 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 Inc. has a 1 year low of $128.50 and a 1 year high of $288.28. The firm has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 105.99, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 analyst estimates of $14.98 billion. During the same quarter last year, the firm posted $10.96 earnings per share. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its Board of Directors has initiated a share repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Friday, June 20th. Broadcom's payout ratio is 88.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Tuesday, June 24th. KeyCorp upped their price objective on shares of Broadcom from $315.00 to $330.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Evercore ISI reissued an "outperform" rating and issued a $304.00 price objective (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. Finally, The Goldman Sachs Group began coverage on shares of Broadcom in a report on Thursday, July 10th. They issued a "buy" rating and a $315.00 price objective for the company. One analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $292.08.

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.