Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Parcion Private Wealth LLC

Parcion Private Wealth LLC lessened its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 33.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,990 shares of the semiconductor manufacturer's stock after selling 31,238 shares during the period. Broadcom comprises approximately 0.9% of Parcion Private Wealth LLC's holdings, making the stock its 25th biggest holding. Parcion Private Wealth LLC's holdings in Broadcom were worth $10,546,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sunbeam Capital Management LLC bought a new position in shares of Broadcom in the fourth quarter valued at about $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Broadcom during the 4th quarter valued at about $30,000. Sellwood Investment Partners LLC bought a new position in shares of Broadcom during the 4th quarter valued at about $32,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom during the 1st quarter worth approximately $25,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Broadcom during the 1st quarter worth approximately $26,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Performance

Shares of AVGO traded down $2.69 during trading hours on Friday, hitting $283.76. The stock had a trading volume of 7,450,928 shares, compared to its average volume of 27,824,067. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $288.28. The firm has a market capitalization of $1.33 trillion, a PE ratio of 106.29, a PEG ratio of 2.00 and a beta of 1.12. The stock has a fifty day moving average price of $252.91 and a 200 day moving average price of $219.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating 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 business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the previous year, the business earned $10.96 earnings per share. The business's revenue was up 20.2% on a year-over-year basis. Analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its board has initiated a stock repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders 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 annualized dividend and a dividend yield of 0.83%. Broadcom's dividend payout ratio (DPR) is 88.39%.

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $274.30, for a total transaction of $219,440.00. Following the sale, the director directly owned 24,582 shares of the company's stock, valued at $6,742,842.60. The trade was a 3.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gayla J. Delly sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the sale, the director directly owned 33,352 shares in the company, valued at $8,842,615.76. The trade was a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 830,516 shares of company stock valued at $217,224,641. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on AVGO shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, June 6th. Barclays upped their price objective on Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Rosenblatt Securities increased their target price on Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Bank of America raised their price objective on Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. One equities research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $292.08.

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.