Kingswood Wealth Advisors LLC Purchases 2,328 Shares of Broadcom Inc. (NASDAQ:AVGO)

Kingswood Wealth Advisors LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,960 shares of the semiconductor manufacturer's stock after buying an additional 2,328 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Broadcom were worth $9,541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock valued at $110,155,206,000 after buying an additional 6,573,204 shares during the last quarter. Geode Capital Management LLC raised its position in Broadcom by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after buying an additional 3,018,294 shares during the last quarter. FMR LLC raised its position in Broadcom by 3.2% in the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock valued at $21,624,718,000 after buying an additional 2,873,809 shares during the last quarter. Norges Bank purchased a new stake in shares of Broadcom during the 4th quarter valued at $16,893,010,000. Finally, Northern Trust Corp increased its position in shares of Broadcom by 12.0% during the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after purchasing an additional 5,258,925 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 transaction of $120,578,041.60. Following the completion of the transaction, the director now owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the transaction, the insider now directly owns 465,956 shares of the company's stock, valued at $83,872,080. The trade was a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 849,134 shares of company stock worth $163,760,949 in the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

NASDAQ AVGO traded up $1.89 during trading hours on Thursday, hitting $251.26. The company had a trading volume of 30,405,545 shares, compared to its average volume of 29,855,922. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $265.43. The firm has a 50 day simple moving average of $219.11 and a 200 day simple moving average of $211.61. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The firm has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 94.10, a PEG ratio of 1.79 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its 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. 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 last year, the company earned $10.96 EPS. The firm's revenue was up 20.2% compared to the same quarter last year. Equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom declared that its Board of Directors has approved a stock buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Broadcom Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVGO. UBS Group raised their target price on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Citigroup raised their target price on Broadcom from $276.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Mizuho raised their target price on Broadcom from $300.00 to $310.00 and gave the company an "outperform" rating in a research report on Friday, June 6th. Finally, Bank of America raised their target price on Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $276.09.

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.