Alpha Financial Partners LLC Buys Shares of 1,494 Broadcom Inc. (NASDAQ:AVGO)

Alpha Financial Partners LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,494 shares of the semiconductor manufacturer's stock, valued at approximately $250,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after buying an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after buying an additional 756 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its stake in shares of Broadcom by 16.4% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock worth $51,283,000 after buying an additional 31,225 shares during the last quarter. Highview Capital Management LLC DE boosted its stake in shares of Broadcom by 1.3% in the 4th quarter. Highview Capital Management LLC DE now owns 25,522 shares of the semiconductor manufacturer's stock worth $5,917,000 after buying an additional 322 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in shares of Broadcom by 46.2% in the 4th quarter. Proficio Capital Partners LLC now owns 19,529 shares of the semiconductor manufacturer's stock worth $4,528,000 after buying an additional 6,168 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Trading Up 2.2%

NASDAQ AVGO traded up $6.10 during trading on Wednesday, hitting $277.90. 20,105,827 shares of the company's stock traded hands, compared to its average volume of 28,408,626. The stock has a fifty day moving average of $242.02 and a two-hundred day moving average of $217.92. 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 12-month low of $128.50 and a 12-month high of $279.37. The firm has a market cap of $1.31 trillion, a P/E ratio of 104.08, a PEG ratio of 1.95 and a beta of 1.12.

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

Broadcom announced that its Board of Directors has approved a stock buyback program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.85%. Broadcom's dividend payout ratio is currently 88.39%.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the sale, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the sale, the director owned 33,352 shares of the company's stock, valued at $8,842,615.76. This trade represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 854,716 shares of company stock valued at $221,433,761 in the last quarter. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of research reports. Cowen reaffirmed a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday. Morgan Stanley lifted their price target on shares of Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Citigroup lifted their price target on shares of Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a report on Monday. Finally, HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a report on Tuesday, June 24th. One investment analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Broadcom presently has an average rating of "Buy" and an average price target of $285.00.

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.