Goldman Sachs Group Inc. Has $5.33 Billion Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Goldman Sachs increased its stake in Broadcom by 16.7%, acquiring an additional 4.5 million shares, making Broadcom its 15th largest holding worth approximately $5.3 billion.
• Broadcom's shares have attracted a positive analyst consensus, with 27 analysts rating the stock as "buy" and a price targets varying from $290 to $338.
• CEO Hock E. Tan and insider Mark David Brazeal sold significant amounts of stock, representing a 10.4% and 10.73% decrease in their holdings, respectively, amid broader insider selling trends totaling over $217 million.

Goldman Sachs Group Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 31,854,414 shares of the semiconductor manufacturer's stock after buying an additional 4,550,647 shares during the period. Broadcom accounts for approximately 0.9% of Goldman Sachs Group Inc.'s portfolio, making the stock its 15th largest holding. Goldman Sachs Group Inc. owned approximately 0.68% of Broadcom worth $5,333,384,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AVGO. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom during the 1st quarter worth $25,000. Cheviot Value Management LLC bought a new stake in shares of Broadcom during the 1st quarter worth about $25,000. Inlight Wealth Management LLC bought a new stake in shares of Broadcom during the 1st quarter worth about $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent research reports. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Evercore ISI reissued an "outperform" rating and issued a $304.00 target price (up from $267.00) on shares of Broadcom in a research report on Friday, June 6th. UBS Group boosted their target price on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Cowen reissued a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Finally, Oppenheimer upped their price objective on shares of Broadcom from $265.00 to $305.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of "Buy" and an average price target of $294.92.

Broadcom Price Performance

Shares of Broadcom stock traded up $8.74 during mid-day trading on Wednesday, reaching $301.67. 17,275,421 shares of the stock were exchanged, compared to its average volume of 17,267,806. The company has a market cap of $1.42 trillion, a price-to-earnings ratio of 112.99, a price-to-earnings-growth ratio of 2.08 and a beta of 1.15. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The firm has a 50-day simple moving average of $270.33 and a 200 day simple moving average of $225.92. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $306.95.

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. The business had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the company posted $10.96 EPS. On average, sell-side 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 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 of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. Broadcom's dividend payout ratio is currently 88.39%.

Insider Activity

In other Broadcom news, Director Justine Page sold 800 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $274.30, for a total transaction of $219,440.00. Following the sale, the director owned 24,582 shares of the company's stock, valued at $6,742,842.60. This represents a 3.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director directly owned 38,188,575 shares in the company, valued at $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 quarter, insiders have sold 830,516 shares of company stock worth $217,224,641. 2.00% of the stock is currently owned by insiders.

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.