Aptus Capital Advisors LLC Trims Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Aptus Capital Advisors LLC reduced its holdings in Broadcom Inc. by 5.2%, bringing its total shares to 312,816, valued at approximately $52.4 million.
• The company's stock has experienced fluctuations, with a 1-year low of $134.90 and a 1-year high of $317.35, currently trading at $306.34.
• Broadcom recently announced a quarterly dividend of $0.59 per share with a current dividend yield of 0.8% and a payout ratio of 88.39%.

Aptus Capital Advisors LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 312,816 shares of the semiconductor manufacturer's stock after selling 17,238 shares during the period. Aptus Capital Advisors LLC's holdings in Broadcom were worth $52,375,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Broadcom by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock worth $79,900,968,000 after buying an additional 2,085,534 shares in the last quarter. Northern Trust Corp grew its stake in Broadcom by 12.0% in the 4th 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 in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Broadcom by 46.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock worth $11,018,089,000 after buying an additional 15,171,849 shares in the last quarter. Nuveen LLC purchased a new position in Broadcom in the 1st quarter worth approximately $6,649,117,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Broadcom by 1.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock worth $7,975,616,000 after buying an additional 581,704 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 1.6%

NASDAQ:AVGO opened at $306.34 on Monday. Broadcom Inc. has a 1-year low of $134.90 and a 1-year high of $317.35. The firm's 50-day moving average price is $278.27 and its 200-day moving average price is $229.89. The company has a market capitalization of $1.44 trillion, a PE ratio of 114.73, a P/E/G ratio of 2.18 and a beta of 1.15. 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 earnings results 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 analysts' expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.96 EPS. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid 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 yield of 0.8%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $307.46, for a total transaction of $245,968.00. Following the sale, the director owned 23,782 shares in the company, valued at approximately $7,312,013.72. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the sale, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock worth $217,286,457 in the last 90 days. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

AVGO has been the topic of several recent research reports. Mizuho increased their target price on shares of Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Tuesday, June 24th. Bank of America lifted their target price on shares of Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Benchmark lifted their target price on shares of Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Rosenblatt Securities lifted their target price on shares of Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $295.96.

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.

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