Broadcom Inc. (NASDAQ:AVGO) Stock Holdings Lowered by Asset Dedication LLC

Asset Dedication LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,058 shares of the semiconductor manufacturer's stock after selling 1,449 shares during the period. Asset Dedication LLC's holdings in Broadcom were worth $6,205,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AVGO. Norges Bank acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $16,893,010,000. GAMMA Investing LLC lifted its stake in Broadcom by 18,179.3% in the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after buying an additional 17,181,652 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Broadcom by 46.9% during the fourth 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. GQG Partners LLC raised its holdings in shares of Broadcom by 200.0% in the fourth quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock worth $2,367,819,000 after acquiring an additional 6,809,245 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Broadcom by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after acquiring an additional 6,573,204 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 0.4%

AVGO stock traded down $1.02 during mid-day trading on Friday, hitting $274.38. 14,264,387 shares of the company were exchanged, compared to its average volume of 28,121,225. The firm has a fifty day simple moving average of $246.70 and a 200 day simple moving average of $218.72. The company has a market capitalization of $1.29 trillion, a PE ratio of 102.76, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $281.18. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping 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 company's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the company posted $10.96 earnings per share. On average, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom declared that its Board of Directors has initiated a share buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership 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 given a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.86%. Broadcom's payout ratio is 88.39%.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 50,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the transaction, the director directly 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. In the last ninety days, insiders sold 829,716 shares of company stock worth $216,933,761. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of recent research reports. Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. UBS Group raised their price target on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Oppenheimer boosted their price objective on shares of Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Finally, HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective on the stock in a report on Tuesday, June 24th. 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 company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $290.21.

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.