Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Atria Investments Inc

Atria Investments Inc lowered its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 257,974 shares of the semiconductor manufacturer's stock after selling 16,330 shares during the quarter. Broadcom makes up about 0.6% of Atria Investments Inc's holdings, making the stock its 24th biggest holding. Atria Investments Inc's holdings in Broadcom were worth $43,193,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in AVGO. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom in the 1st quarter valued at about $25,000. Inlight Wealth Management LLC purchased a new position in Broadcom in the 1st quarter worth approximately $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom in the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom during the 4th quarter valued at approximately $30,000. Finally, Wood Tarver Financial Group LLC boosted its stake in shares of Broadcom by 342.5% during the 1st quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock valued at $30,000 after buying an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the business's 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 transaction, the director directly owned 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 40,000 shares of the business's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the transaction, the chief executive officer owned 482,836 shares in the company, valued at $129,540,070.44. The trade was a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 830,516 shares of company stock valued at $217,224,641. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. The Goldman Sachs Group initiated coverage on Broadcom in a research report on Thursday, July 10th. They issued a "buy" rating and a $315.00 target price on the stock. Rosenblatt Securities raised their target price on Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Cowen reiterated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. UBS Group increased their price objective on Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Mizuho increased their price objective on Broadcom from $315.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Broadcom has an average rating of "Buy" and a consensus target price of $292.08.

Broadcom Stock Up 0.5%

AVGO traded up $1.47 during trading on Friday, hitting $290.18. The stock had a trading volume of 12,031,575 shares, compared to its average volume of 17,076,324. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $292.59. The stock has a 50 day simple moving average of $260.05 and a two-hundred day simple moving average of $222.13. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The company has a market capitalization of $1.36 trillion, a PE ratio of 108.68, a PEG ratio of 2.06 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $14.98 billion. During the same quarter last year, the company posted $10.96 earnings per share. The firm's revenue was up 20.2% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom announced that its board has initiated a share 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 repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.81%. Broadcom's dividend payout ratio (DPR) is 88.39%.

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.