Avidian Wealth Enterprises LLC Acquires 954 Shares of Broadcom Inc. (NASDAQ:AVGO)

Avidian Wealth Enterprises LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,472 shares of the semiconductor manufacturer's stock after purchasing an additional 954 shares during the quarter. Avidian Wealth Enterprises LLC's holdings in Broadcom were worth $4,097,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rialto Wealth Management LLC bought a new stake in Broadcom during the fourth quarter worth about $26,000. Sunbeam Capital Management LLC acquired a new position in Broadcom during the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. acquired a new position in Broadcom during the fourth quarter worth about $30,000. Sellwood Investment Partners LLC acquired a new position in Broadcom during the fourth quarter worth about $32,000. Finally, Bellevue Asset Management LLC acquired a new position in Broadcom during the fourth quarter worth about $33,000. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction on Friday, April 11th. The stock was 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 trade represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kirsten M. Spears sold 56,310 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total value of $14,176,042.50. Following the completion of the transaction, the chief financial officer now owns 361,937 shares in the company, valued at approximately $91,117,639.75. This represents a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 811,716 shares of company stock worth $209,906,771 in the last ninety days. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AVGO shares. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Benchmark boosted their target price on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a research note on Tuesday, June 24th. Rosenblatt Securities boosted their target price on Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Wall Street Zen downgraded Broadcom from a "buy" rating to a "hold" rating in a research note on Sunday, June 15th. Two investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $281.25.

Broadcom Price Performance

Broadcom stock opened at $269.35 on Monday. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 100.88, a PEG ratio of 1.92 and a beta of 1.11. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $274.30. The stock's 50 day moving average price is $229.43 and its two-hundred day moving average price is $215.75. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The firm 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 company's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business earned $10.96 EPS. On average, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom announced that its Board of Directors has authorized a stock repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.