Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Capital Advisors Wealth Management LLC

Capital Advisors Wealth Management LLC cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,826 shares of the semiconductor manufacturer's stock after selling 3,067 shares during the period. Capital Advisors Wealth Management LLC's holdings in Broadcom were worth $2,315,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. WJ Wealth Management LLC increased its position in Broadcom by 2.6% during the 1st quarter. WJ Wealth Management LLC now owns 3,858 shares of the semiconductor manufacturer's stock worth $646,000 after purchasing an additional 98 shares in the last quarter. CFM Wealth Partners LLC purchased a new stake in Broadcom during the first quarter worth approximately $614,000. Colonial River Investments LLC grew its stake in Broadcom by 4.0% during the first quarter. Colonial River Investments LLC now owns 14,425 shares of the semiconductor manufacturer's stock worth $2,415,000 after buying an additional 561 shares during the period. WealthBridge Capital Management LLC increased its position in shares of Broadcom by 7.0% in the first quarter. WealthBridge Capital Management LLC now owns 4,626 shares of the semiconductor manufacturer's stock worth $774,000 after acquiring an additional 302 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Broadcom by 3.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,687,767 shares of the semiconductor manufacturer's stock valued at $1,956,883,000 after acquiring an additional 416,994 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Seaport Res Ptn raised shares of 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. William Blair reiterated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research report on Tuesday, June 24th. Finally, Wells Fargo & Company increased their price objective on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Broadcom has an average rating of "Buy" and a consensus target price of $281.25.

Broadcom Stock Down 0.3%

NASDAQ:AVGO opened at $269.35 on Friday. 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 $1.27 trillion, a price-to-earnings ratio of 100.88, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. Broadcom Inc. has a one year low of $128.50 and a one year high of $271.85. The stock has a 50-day simple moving average of $229.43 and a 200 day simple moving average of $215.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter last year, the business posted $10.96 EPS. Broadcom's quarterly revenue was up 20.2% compared to the same quarter last year. Sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.88%. The ex-dividend date is Friday, June 20th. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Broadcom declared that its Board of Directors has approved a share buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction that occurred on Wednesday, June 25th. The stock was 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 now directly owns 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the sale, the insider now owns 465,956 shares in the company, valued at $83,872,080. The trade was a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 811,716 shares of company stock valued at $209,906,771 over the last 90 days. 2.00% of the stock is owned by company insiders.

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.

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