U.S. Capital Wealth Advisors LLC Acquires 30,002 Shares of Broadcom Inc. (NASDAQ:AVGO)

U.S. Capital Wealth Advisors LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 33.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,412 shares of the semiconductor manufacturer's stock after purchasing an additional 30,002 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Broadcom were worth $19,993,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AVGO. SlateStone Wealth LLC lifted its holdings in Broadcom by 0.3% in the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock valued at $3,207,000 after acquiring an additional 47 shares during the last quarter. True Wealth Design LLC lifted its holdings in Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after acquiring an additional 48 shares during the last quarter. Cascade Financial Partners LLC lifted its holdings in Broadcom by 1.8% in the 4th quarter. Cascade Financial Partners LLC now owns 2,882 shares of the semiconductor manufacturer's stock valued at $668,000 after acquiring an additional 50 shares during the last quarter. Samalin Investment Counsel LLC lifted its holdings in Broadcom by 1.0% in the 4th quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer's stock valued at $1,155,000 after acquiring an additional 50 shares during the last quarter. Finally, Mizuho Bank Ltd. lifted its holdings in Broadcom by 7.1% in the 4th quarter. Mizuho Bank Ltd. now owns 750 shares of the semiconductor manufacturer's stock valued at $174,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider owned 789,784 shares in the company, valued at $199,720,577.92. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Henry Samueli sold 473,898 shares of the stock in a transaction that occurred 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 transaction, the director owned 38,188,575 shares in the company, 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. Over the last 90 days, insiders have sold 854,716 shares of company stock valued at $221,433,761. 2.00% of the stock is owned by company insiders.

Broadcom Stock Down 0.9%

Shares of AVGO traded down $2.38 during trading hours on Tuesday, reaching $271.80. The company's stock had a trading volume of 14,846,336 shares, compared to its average volume of 28,441,814. The firm has a market cap of $1.28 trillion, a price-to-earnings ratio of 101.80, a P/E/G ratio of 1.95 and a beta of 1.12. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $277.71. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average of $240.40 and a two-hundred day moving average of $217.54.

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, topping 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 firm had revenue of $15 billion for 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, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom declared that its Board of Directors has approved a stock repurchase plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.87%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Analyst Ratings Changes

A number of brokerages have weighed in on AVGO. Bank of America upped their price target on shares of Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a report on Friday, June 6th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Mizuho boosted their price objective on Broadcom from $310.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a report on Friday, June 6th. Finally, Citigroup boosted their price objective on Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a report on Monday. One equities research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $285.00.

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.