Chilton Capital Management LLC Purchases 161,003 Shares of Broadcom Inc. (NASDAQ:AVGO)

Chilton Capital Management LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,450.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 172,104 shares of the semiconductor manufacturer's stock after purchasing an additional 161,003 shares during the quarter. Broadcom makes up 1.2% of Chilton Capital Management LLC's holdings, making the stock its 29th largest position. Chilton Capital Management LLC's holdings in Broadcom were worth $28,815,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom in the first quarter valued at $25,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter worth about $26,000. Inlight Wealth Management LLC purchased a new stake in Broadcom during the 1st quarter worth about $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at about $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Broadcom in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 0.0%

Shares of NASDAQ:AVGO traded up $0.10 on Tuesday, reaching $274.28. The company had a trading volume of 7,267,441 shares, compared to its average volume of 28,444,243. The stock has a market capitalization of $1.29 trillion, a P/E ratio of 102.73, a P/E/G ratio of 1.96 and a beta of 1.12. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $277.71. The stock has a 50-day moving average price of $240.40 and a 200 day moving average price of $217.54.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results 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. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business's revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.96 EPS. On average, equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors 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%.

Broadcom declared that its board has initiated a stock buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have commented on AVGO shares. Barclays upped their price objective on Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Truist Financial set a $295.00 target price on Broadcom and gave the company a "buy" rating in a report on Friday, June 6th. Evercore ISI restated an "outperform" rating and set a $304.00 price objective (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. UBS Group increased their target price on Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective on the stock in a research report on Tuesday, June 24th. One analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and a consensus price target of $285.00.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 789,784 shares of the company's stock, valued at $199,720,577.92. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 854,716 shares of company stock valued at $221,433,761. Corporate insiders own 2.00% of the company's stock.

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.