Everpar Advisors LLC Cuts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Everpar Advisors LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 12,226 shares of the semiconductor manufacturer's stock after selling 1,823 shares during the quarter. Broadcom accounts for about 1.1% of Everpar Advisors LLC's holdings, making the stock its 17th biggest holding. Everpar Advisors LLC's holdings in Broadcom were worth $2,047,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Tallon Kerry Patrick purchased a new position in shares of Broadcom in the fourth quarter worth $357,000. Capital & Planning LLC boosted its holdings in shares of Broadcom by 15.3% during the 4th quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock valued at $969,000 after buying an additional 554 shares in the last quarter. LaFleur & Godfrey LLC boosted its holdings in shares of Broadcom by 18.7% during the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock valued at $18,145,000 after buying an additional 12,345 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after buying an additional 5,322 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Broadcom during the 4th quarter valued at $71,312,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of AVGO stock traded down $7.37 on Friday, reaching $248.70. The company's stock had a trading volume of 19,002,301 shares, compared to its average volume of 30,383,406. The stock's fifty day simple moving average is $213.01 and its 200-day simple moving average is $209.50. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $265.43. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $1.17 trillion, a price-to-earnings ratio of 202.86, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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 company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom's revenue was up 20.2% on a year-over-year basis. During the same period last year, the company earned $10.96 earnings per share. Analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a $0.59 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.95%. Broadcom's dividend payout ratio is presently 88.39%.

Broadcom announced that its board has authorized a stock repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts recently commented on AVGO shares. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Susquehanna increased their price objective on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research report on Friday, June 6th. Oppenheimer upped their target price on shares of Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. KeyCorp upped their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Wall Street Zen cut shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Sunday. Three analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $276.09.

Insider Buying and Selling

In other news, Director Justine Page sold 800 shares of Broadcom stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the sale, the director now directly owns 26,182 shares in the company, valued at approximately $6,026,834.58. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the sale, the insider now owns 789,784 shares of the company's stock, valued at approximately $199,720,577.92. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 730,576 shares of company stock worth $133,778,494 over the last three months. 2.00% of the stock is owned by insiders.

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.