Commerzbank Aktiengesellschaft FI Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Commerzbank Aktiengesellschaft FI lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,016,907 shares of the semiconductor manufacturer's stock after purchasing an additional 10,059 shares during the quarter. Broadcom comprises about 4.0% of Commerzbank Aktiengesellschaft FI's investment portfolio, making the stock its 4th largest holding. Commerzbank Aktiengesellschaft FI's holdings in Broadcom were worth $170,261,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom during the first quarter worth about $25,000. Inlight Wealth Management LLC acquired a new position in shares of Broadcom in the 1st quarter worth approximately $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. acquired a new stake in Broadcom during the fourth quarter valued at approximately $30,000. Finally, Wood Tarver Financial Group LLC boosted its holdings in Broadcom by 342.5% during the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock worth $30,000 after buying an additional 137 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent research reports. Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Redburn Atlantic initiated coverage on shares of Broadcom in a research report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 target price on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, June 6th. Benchmark upped their price target on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Citigroup increased their price target on shares of Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $292.08.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $3.11 during mid-day trading on Friday, hitting $283.34. 15,006,524 shares of the stock were exchanged, compared to its average volume of 27,811,482. The stock's fifty day simple moving average is $254.41 and its two-hundred day simple moving average is $220.33. The company has a market cap of $1.33 trillion, a P/E ratio of 106.12, a PEG ratio of 2.04 and a beta of 1.12. 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 Inc. has a twelve month low of $128.50 and a twelve month high of $288.28.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS 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 business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter in the prior year, the company posted $10.96 earnings per share. The firm's revenue was up 20.2% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Broadcom announced that its Board of Directors has initiated a share buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 40,000 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the sale, the chief executive officer directly owned 482,836 shares of the company's stock, valued at approximately $129,540,070.44. The trade was a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total value of $9,497,164.50. Following the transaction, the chief financial officer owned 325,587 shares of the company's stock, valued at approximately $85,066,115.49. This trade represents a 10.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock worth $217,224,641 in the last quarter. Company insiders own 2.00% of the company's stock.

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.