Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Advisory Resource Group

Advisory Resource Group lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 30.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,139 shares of the semiconductor manufacturer's stock after purchasing an additional 1,422 shares during the quarter. Advisory Resource Group's holdings in Broadcom were worth $1,028,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. SlateStone Wealth LLC grew its position in shares of Broadcom by 0.3% during 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 period. True Wealth Design LLC grew its holdings in Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after purchasing an additional 48 shares during the period. Bfsg LLC grew its holdings in Broadcom by 12.5% in the fourth quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer's stock valued at $105,000 after purchasing an additional 50 shares during the period. Global Strategic Investment Solutions LLC increased its position in shares of Broadcom by 1.5% in the fourth quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock valued at $782,000 after buying an additional 50 shares in the last quarter. Finally, Cascade Financial Partners LLC raised its stake in shares of Broadcom by 1.8% during the 4th quarter. Cascade Financial Partners LLC now owns 2,882 shares of the semiconductor manufacturer's stock worth $668,000 after buying an additional 50 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Up 0.8%

Shares of AVGO stock opened at $251.26 on Thursday. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. The company has a 50 day moving average price of $217.54 and a 200 day moving average price of $211.02. The stock has a market capitalization of $1.18 trillion, a P/E ratio of 94.10, a price-to-earnings-growth ratio of 1.77 and a beta of 1.11. 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 (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, 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 business had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. During the same quarter in the prior year, the company earned $10.96 earnings per share. The company's revenue was up 20.2% on a year-over-year basis. Equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's dividend payout ratio is presently 88.39%.

Broadcom announced that its board has authorized a stock repurchase 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 stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AVGO. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Susquehanna raised their price target on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a research note on Friday, June 6th. Morgan Stanley raised their price objective on Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Finally, Truist Financial set a $295.00 target price on shares of Broadcom and gave the stock a "buy" rating in a research note on Friday, June 6th. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $276.09.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $250.35, for a total transaction of $200,280.00. Following the completion of the transaction, the director now owns 25,382 shares in the company, valued at $6,354,383.70. The trade was a 3.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 849,134 shares of company stock worth $163,760,949. Company insiders own 2.00% of the company's stock.

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.

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