Broadcom Inc. (NASDAQ:AVGO) Stake Boosted by Wedmont Private Capital

Wedmont Private Capital lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 37.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,073 shares of the semiconductor manufacturer's stock after purchasing an additional 18,845 shares during the period. Broadcom makes up 0.6% of Wedmont Private Capital's investment portfolio, making the stock its 25th largest holding. Wedmont Private Capital's holdings in Broadcom were worth $12,567,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. raised its position in Broadcom by 3.8% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after acquiring an additional 18,845 shares during the last quarter. Nebula Research & Development LLC raised its position in shares of Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after purchasing an additional 14,399 shares during the last quarter. Kovack Advisors Inc. raised its position in shares of Broadcom by 8.1% during the 4th quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer's stock worth $7,971,000 after purchasing an additional 2,570 shares during the last quarter. SOA Wealth Advisors LLC. raised its position in shares of Broadcom by 50.6% during the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer's stock worth $245,000 after purchasing an additional 355 shares during the last quarter. Finally, Coppell Advisory Solutions LLC raised its position in shares of Broadcom by 1,512.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock worth $21,660,000 after purchasing an additional 86,884 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the transaction, the director now directly owns 25,380 shares of the company's stock, valued at $4,695,300. This represents a 3.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock valued at $131,249,694 over the last ninety days. Corporate insiders own 2.00% of the company's stock.

Broadcom Trading Up 0.1%

AVGO stock traded up $0.35 during midday trading on Tuesday, reaching $244.63. 25,457,534 shares of the company's stock traded hands, compared to its average volume of 31,006,245. The company has a market capitalization of $1.15 trillion, a P/E ratio of 199.54, a PEG ratio of 2.29 and a beta of 1.11. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. The business has a 50-day moving average price of $205.17 and a two-hundred day moving average price of $207.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom's revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company posted $10.96 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

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

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be given a dividend of $0.59 per share. 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 0.96%. Broadcom's dividend payout ratio (DPR) is 88.39%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVGO. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a report on Friday. Morgan Stanley lifted their price target on shares of Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Friday. Finally, UBS Group lifted their price target on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $272.71.

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.