Francis Financial Inc. reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 39.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,583 shares of the semiconductor manufacturer's stock after selling 1,669 shares during the period. Francis Financial Inc.'s holdings in Broadcom were worth $432,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after purchasing an additional 18,845 shares in the last quarter. PARUS FINANCE UK Ltd increased its stake in Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after purchasing an additional 64,038 shares in the last quarter. Nebula Research & Development LLC increased its stake in Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock worth $3,642,000 after purchasing an additional 14,399 shares in the last quarter. Keener Financial Planning LLC increased its stake in Broadcom by 34.8% in the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock worth $149,000 after purchasing an additional 230 shares in the last quarter. Finally, Diversify Wealth Management LLC increased its stake in Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after purchasing an additional 2,016 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Broadcom
In other news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was 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. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the transaction, the insider owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 829,716 shares of company stock valued at $217,040,489. 2.00% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on AVGO. KeyCorp lifted their price target on Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. UBS Group lifted their target price on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Mizuho lifted their target price on Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $304.00 target price (up previously from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Two equities 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 stock. According to MarketBeat, Broadcom has an average rating of "Buy" and an average target price of $294.92.
View Our Latest Report on Broadcom
Broadcom Stock Up 2.9%
AVGO opened at $312.83 on Wednesday. The business has a 50 day moving average price of $275.10 and a 200 day moving average price of $227.64. Broadcom Inc. has a twelve month low of $134.90 and a twelve month high of $313.44. 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 firm has a market cap of $1.47 trillion, a P/E ratio of 117.16, a price-to-earnings-growth ratio of 2.16 and a beta of 1.15.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results 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 return on equity of 35.49% and a net margin of 22.64%. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period in the previous year, the company earned $10.96 EPS. The company's revenue for the quarter was up 20.2% on a year-over-year basis. Research analysts forecast 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. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom's payout ratio is 88.39%.
Broadcom Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).
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