Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Alps Advisors Inc.

Alps Advisors Inc. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,831 shares of the semiconductor manufacturer's stock after purchasing an additional 2,676 shares during the quarter. Alps Advisors Inc.'s holdings in Broadcom were worth $3,990,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC acquired a new stake in Broadcom in the first quarter valued at approximately $25,000. Inlight Wealth Management LLC acquired a new stake in Broadcom in the first quarter valued at approximately $26,000. Sunbeam Capital Management LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. acquired a new stake in Broadcom in the fourth quarter valued at approximately $30,000. Finally, Wood Tarver Financial Group LLC raised its holdings in Broadcom by 342.5% in the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock valued at $30,000 after acquiring an additional 137 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 56,310 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total value of $14,176,042.50. Following the completion of the sale, the chief financial officer owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. This trade represents a 13.46% 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 firm's stock in a transaction on 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 sale, the director directly owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 829,716 shares of company stock worth $216,933,761 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO opened at $274.38 on Friday. The company's 50 day simple moving average is $246.70 and its 200-day simple moving average is $218.87. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $281.18. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The firm has a market cap of $1.29 trillion, a PE ratio of 102.76, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data 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 net margin of 22.64% and a return on equity of 35.49%. The firm had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same period last year, the firm posted $10.96 EPS. Broadcom's quarterly revenue was up 20.2% on a year-over-year basis. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

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

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given 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 0.86%. Broadcom's dividend payout ratio (DPR) is 88.39%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several analyst reports. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Morgan Stanley raised their target price on shares of Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Friday, June 6th. HSBC upgraded shares of 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Buy" and a consensus target price of $290.21.

About Broadcom

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.