Banco Bilbao Vizcaya Argentaria S.A. Boosts Position in Broadcom Inc. $AVGO

Key Points

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Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 47.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 760,816 shares of the semiconductor manufacturer's stock after buying an additional 245,428 shares during the period. Broadcom accounts for 1.3% of Banco Bilbao Vizcaya Argentaria S.A.'s portfolio, making the stock its 12th biggest position. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Broadcom were worth $127,232,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. True Wealth Design LLC increased its stake in shares of Broadcom by 7.2% during the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after buying an additional 48 shares during the period. Fulton Breakefield Broenniman LLC grew its stake in Broadcom by 2.4% in the first quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock worth $357,000 after purchasing an additional 50 shares during the period. American Financial Advisors LLC grew its stake in Broadcom by 3.8% in the first quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer's stock worth $240,000 after purchasing an additional 52 shares during the period. GS Investments Inc. grew its stake in Broadcom by 0.5% in the first quarter. GS Investments Inc. now owns 11,397 shares of the semiconductor manufacturer's stock worth $1,908,000 after purchasing an additional 52 shares during the period. Finally, FCA Corp TX grew its stake in Broadcom by 0.5% in the first quarter. FCA Corp TX now owns 10,846 shares of the semiconductor manufacturer's stock worth $1,816,000 after purchasing an additional 54 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 0.2%

Shares of NASDAQ:AVGO opened at $305.76 on Tuesday. Broadcom Inc. has a 1 year low of $134.90 and a 1 year high of $317.35. The stock's fifty day moving average price is $279.50 and its 200-day moving average price is $230.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The company has a market cap of $1.44 trillion, a P/E ratio of 114.52, a PEG ratio of 2.18 and a beta of 1.15.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter in the prior year, the company earned $10.96 earnings per share. Broadcom's revenue was up 20.2% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a $0.59 dividend. The ex-dividend date of this dividend 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 is currently 88.39%.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 50,000 shares of the 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 transaction, the insider owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This represents 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 valued at $217,286,457 in the last 90 days. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley set a $338.00 price target on Broadcom and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Tuesday, June 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, June 6th. KeyCorp upped their price target on Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of "Buy" and an average target price of $295.96.

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.

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