Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Ameritas Advisory Services LLC

Ameritas Advisory Services LLC lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 54.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,743 shares of the semiconductor manufacturer's stock after selling 27,289 shares during the quarter. Ameritas Advisory Services LLC's holdings in Broadcom were worth $3,808,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom during the 4th quarter worth $28,000. Vermillion Wealth Management Inc. acquired a new position in Broadcom in the fourth quarter valued at $30,000. Sellwood Investment Partners LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at about $32,000. Finally, Bellevue Asset Management LLC acquired a new position in Broadcom in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the topic of several analyst reports. Wall Street Zen downgraded Broadcom from a "buy" rating to a "hold" rating in a research note on Sunday, June 15th. William Blair restated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. UBS Group upped their price objective on Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Rosenblatt Securities raised their target price on Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Truist Financial set a $295.00 price target on shares of Broadcom and gave the stock a "buy" rating in a research note on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Broadcom presently has a consensus rating of "Buy" and a consensus target price of $281.25.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 50,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the sale, the insider directly owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider directly owned 789,784 shares of the company's stock, valued at approximately $199,720,577.92. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 854,716 shares of company stock valued at $221,433,761. Corporate insiders own 2.00% of the company's stock.

Broadcom Trading Down 4.0%

NASDAQ:AVGO traded down $10.91 on Tuesday, reaching $264.74. The stock had a trading volume of 28,823,497 shares, compared to its average volume of 28,893,933. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $277.71. The company has a market cap of $1.25 trillion, a price-to-earnings ratio of 99.15, a P/E/G ratio of 1.92 and a beta of 1.11. The firm's fifty day moving average is $231.62 and its two-hundred day moving average is $216.10. 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 announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion for 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 company's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.96 earnings per share. Equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were paid a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.89%. Broadcom's payout ratio is currently 88.39%.

Broadcom declared that its board has authorized a share buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

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.