Aurora Private Wealth Inc. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,228.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,427 shares of the semiconductor manufacturer's stock after purchasing an additional 46,630 shares during the quarter. Aurora Private Wealth Inc.'s holdings in Broadcom were worth $8,443,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Broadcom during the 4th quarter valued at about $16,893,010,000. GAMMA Investing LLC raised its position in Broadcom by 18,179.3% during the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after purchasing an additional 17,181,652 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 valued at $11,018,089,000 after purchasing an additional 15,171,849 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock worth $2,367,819,000 after purchasing an additional 6,809,245 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after purchasing an additional 6,573,204 shares during the last quarter. Institutional investors own 76.43% of the company's stock.
Insiders Place Their Bets
In related news, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction 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 transaction, the director now directly owns 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total value of $4,500,000.00. Following the transaction, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 811,716 shares of company stock worth $209,906,771. 2.00% of the stock is owned by corporate insiders.
Broadcom Stock Down 0.3%
Shares of NASDAQ AVGO traded down $0.82 during midday trading on Friday, reaching $269.35. 27,450,264 shares of the company's stock traded hands, compared to its average volume of 29,072,842. The company has a market cap of $1.27 trillion, a price-to-earnings ratio of 100.88, a P/E/G ratio of 1.92 and a beta of 1.11. Broadcom Inc. has a one year low of $128.50 and a one year high of $273.09. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The stock's 50 day simple moving average is $227.46 and its 200-day simple moving average is $214.61.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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 return on equity of 35.49% and a net margin of 22.64%. The business's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the firm earned $10.96 EPS. On average, analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.
Broadcom declared that its board has initiated a stock buyback plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
Broadcom Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.88%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Evercore ISI restated an "outperform" rating and issued a $304.00 price target (up from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Bank of America upped their price target on shares of Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a report on Friday, June 6th. Oppenheimer upped their target price on Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. William Blair reiterated an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Finally, Truist Financial set a $295.00 price objective on Broadcom and gave the company a "buy" rating in a research report on Friday, June 6th. Two investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Broadcom has an average rating of "Buy" and a consensus price target of $281.25.
Check Out Our Latest Research Report on AVGO
Broadcom Profile
(
Free Report)
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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