Broadcom Inc. (NASDAQ:AVGO) Position Lessened by Bard Financial Services Inc.

Bard Financial Services Inc. decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,775 shares of the semiconductor manufacturer's stock after selling 1,375 shares during the quarter. Bard Financial Services Inc.'s holdings in Broadcom were worth $2,474,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in AVGO. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Broadcom by 3.8% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after buying an additional 18,845 shares during the period. Nebula Research & Development LLC boosted its stake in shares of Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after acquiring an additional 14,399 shares in the last quarter. Kovack Advisors Inc. grew its holdings in shares of Broadcom by 8.1% in the 4th quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer's stock worth $7,971,000 after acquiring an additional 2,570 shares during the period. SOA Wealth Advisors LLC. increased its stake in Broadcom by 50.6% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer's stock valued at $245,000 after purchasing an additional 355 shares in the last quarter. Finally, Coppell Advisory Solutions LLC increased its stake in Broadcom by 1,512.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock valued at $21,660,000 after purchasing an additional 86,884 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Up 1.0%

Shares of AVGO stock traded up $2.57 on Thursday, reaching $255.48. 11,079,107 shares of the stock were exchanged, compared to its average volume of 30,887,126. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1.20 trillion, a P/E ratio of 208.39, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. The firm has a 50 day moving average of $209.12 and a two-hundred day moving average of $207.94. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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 company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm's revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm posted $10.96 earnings per share. On average, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its board 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 repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Broadcom Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.92%. Broadcom's payout ratio is 88.39%.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the sale, the director now owns 25,380 shares of the company's stock, valued at approximately $4,695,300. This trade represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 over the last 90 days. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on AVGO. William Blair reissued an "outperform" rating on shares of Broadcom in a report on Friday, March 7th. Truist Financial set a $295.00 price objective on shares of Broadcom and gave the stock a "buy" rating in a research report on Friday, June 6th. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, June 6th. Morgan Stanley lifted their target price on shares of Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Finally, Rosenblatt Securities upped their price target on shares of Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a report on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and an average price target of $272.71.

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.