Allworth Financial LP Has $53.72 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Allworth Financial LP lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 320,868 shares of the semiconductor manufacturer's stock after buying an additional 2,770 shares during the period. Allworth Financial LP's holdings in Broadcom were worth $53,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of 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 lifted its stake in shares of Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after buying an additional 14,399 shares in the last quarter. OMNI 360 Wealth Inc. grew its holdings in Broadcom by 51.6% during the first quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock worth $499,000 after buying an additional 1,014 shares in the last quarter. Coppell Advisory Solutions LLC lifted 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 buying an additional 86,884 shares in the last quarter. Finally, Colonial Trust Co SC boosted its holdings in shares of Broadcom by 14.6% in the 4th quarter. Colonial Trust Co SC now owns 10,085 shares of the semiconductor manufacturer's stock worth $2,338,000 after buying an additional 1,285 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 related news, Director Gayla J. Delly sold 3,000 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the transaction, the director owned 33,352 shares in the company, valued at approximately $8,842,615.76. The trade was a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total value of $9,497,164.50. Following the transaction, the chief financial officer directly owned 325,587 shares in the company, valued at approximately $85,066,115.49. This represents a 10.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 854,716 shares of company stock worth $221,433,761. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

Broadcom stock traded down $2.50 during trading hours on Thursday, hitting $275.40. The stock had a trading volume of 17,848,136 shares, compared to its average volume of 28,277,906. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $281.42. The stock has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 103.15, a PEG ratio of 1.98 and a beta of 1.12. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The stock's fifty day moving average is $243.73 and its two-hundred day moving average is $218.33.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping 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 quarter last year, the business earned $10.96 earnings per share. Broadcom's revenue was up 20.2% compared to the same quarter last year. As a group, analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom announced that its board has authorized a share repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Analysts Set New Price Targets

A number of research analysts have recently commented on AVGO shares. Citigroup boosted their price target on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Monday. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Finally, Truist Financial set a $295.00 price objective on Broadcom and gave the company a "buy" rating in a research report on Friday, June 6th. One 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 data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target 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.