Brady Family Wealth LLC Decreases Holdings in Broadcom Inc. (NASDAQ:AVGO)

Brady Family Wealth LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,617 shares of the semiconductor manufacturer's stock after selling 1,029 shares during the quarter. Broadcom comprises approximately 2.3% of Brady Family Wealth LLC's investment portfolio, making the stock its 11th biggest position. Brady Family Wealth LLC's holdings in Broadcom were worth $7,303,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after acquiring an additional 18,845 shares during the period. Nebula Research & Development LLC raised its position in Broadcom by 1,100.8% during the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after purchasing an additional 14,399 shares in the last quarter. Kovack Advisors Inc. raised its position in Broadcom by 8.1% during the fourth quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer's stock valued at $7,971,000 after purchasing an additional 2,570 shares in the last quarter. SOA Wealth Advisors LLC. boosted its holdings in shares of 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 shares of 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 during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent analyst reports. Susquehanna lifted their target price on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research report on Friday, June 6th. Cowen reiterated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Oppenheimer lifted their target price on Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Truist Financial set a $295.00 target price on Broadcom and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, KeyCorp increased their price target on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $276.09.

Broadcom Stock Down 0.5%

Shares of AVGO stock traded down $1.27 during trading hours on Friday, hitting $249.99. 42,100,140 shares of the company's stock traded hands, compared to its average volume of 29,751,835. The stock's fifty day simple moving average is $220.48 and its two-hundred day simple moving average is $212.17. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $265.43. The stock has a market cap of $1.18 trillion, a price-to-earnings ratio of 93.63, a PEG ratio of 1.79 and a beta of 1.11. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last released 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. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period last year, the business earned $10.96 earnings per share. The business's revenue was up 20.2% on a year-over-year basis. On average, analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm 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 dividend of $0.59 per share. The ex-dividend date is Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.94%. Broadcom's dividend payout ratio is 88.39%.

Broadcom announced that its Board of Directors has authorized a share repurchase plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Justine Page sold 800 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $250.35, for a total transaction of $200,280.00. Following the sale, the director now owns 25,382 shares of the company's stock, valued at $6,354,383.70. This trade represents a 3.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the sale, the chief executive officer now owns 1,014,152 shares of the company's stock, valued at $256,489,182.32. This represents a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 849,134 shares of company stock valued at $163,760,949. Corporate insiders own 2.00% of the company's stock.

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.