Aveo Capital Partners LLC Has $348,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Aveo Capital Partners LLC reduced its holdings in Broadcom Inc. by 57.4%, now owning 2,081 shares valued at approximately $348,000 after selling 2,799 shares.
• Insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock for over $2.5 million, while Director Henry Samueli sold 473,898 shares for approximately $125.7 million.
• Broadcom's shares opened at $304.97 with a 1-year range between $134.90 and $310.34, and the company declared a quarterly dividend of $0.59, reflecting a dividend yield of 0.8%.

Aveo Capital Partners LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 57.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,081 shares of the semiconductor manufacturer's stock after selling 2,799 shares during the quarter. Aveo Capital Partners LLC's holdings in Broadcom were worth $348,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock worth $79,900,968,000 after purchasing an additional 2,085,534 shares in the last quarter. Northern Trust Corp boosted its stake in Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after purchasing an additional 5,258,925 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock worth $11,018,089,000 after purchasing an additional 15,171,849 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Broadcom by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock worth $7,975,616,000 after purchasing an additional 581,704 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Broadcom by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock worth $5,668,134,000 after acquiring an additional 1,043,948 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the transaction, the insider owned 789,784 shares in the company, valued at approximately $199,720,577.92. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kirsten M. Spears sold 56,310 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total value of $14,176,042.50. Following the sale, the chief financial officer directly owned 361,937 shares of the company's stock, valued at $91,117,639.75. The trade was a 13.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock valued at $217,224,641 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Up 2.9%

Shares of NASDAQ AVGO traded up $8.93 during trading on Tuesday, reaching $312.83. 17,604,553 shares of the stock were exchanged, compared to its average volume of 16,984,464. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The business's 50-day moving average price is $275.10 and its 200 day moving average price is $227.64. The company has a market capitalization of $1.47 trillion, a price-to-earnings ratio of 117.16, a price-to-earnings-growth ratio of 2.16 and a beta of 1.15. Broadcom Inc. has a twelve month low of $134.90 and a twelve month high of $313.44.

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 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 business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter in the prior year, the company posted $10.96 earnings per share. The company's quarterly revenue was up 20.2% compared to the same quarter last year. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.59 dividend. The ex-dividend date 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%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial set a $295.00 target price on Broadcom and gave the company a "buy" rating in a research note on Friday, June 6th. Wall Street Zen cut Broadcom from a "buy" rating to a "hold" rating in a research report on Saturday. KeyCorp upped their price objective on Broadcom from $315.00 to $330.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Wells Fargo & Company increased their target price on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research note on Friday, June 6th. Finally, Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $294.92.

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.