Schechter Investment Advisors LLC Has $4.30 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Schechter Investment Advisors LLC lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 22.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,661 shares of the semiconductor manufacturer's stock after selling 7,554 shares during the period. Schechter Investment Advisors LLC's holdings in Broadcom were worth $4,296,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC acquired a new position in shares of Broadcom during the 4th quarter worth about $28,000. Vermillion Wealth Management Inc. acquired a new position in shares of Broadcom during the 4th quarter worth about $30,000. Sellwood Investment Partners LLC acquired a new position in shares of Broadcom during the 4th quarter worth about $32,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom during the 1st quarter worth about $25,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of Broadcom during the 1st quarter worth about $26,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Cowen restated a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Redburn Atlantic assumed coverage on shares of Broadcom in a research note on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective for the company. Mizuho increased their price objective on shares of Broadcom from $310.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Citigroup raised their target price on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Oppenheimer raised their target price on shares of Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $290.21.

Broadcom Stock Performance

Broadcom stock traded down $1.02 during trading hours on Friday, hitting $274.38. The company had a trading volume of 14,264,387 shares, compared to its average volume of 28,121,225. The firm has a market cap of $1.29 trillion, a PE ratio of 102.76, a PEG ratio of 1.95 and a beta of 1.12. 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 one year low of $128.50 and a one year high of $281.18. The firm has a 50-day moving average of $246.70 and a 200 day moving average of $218.72.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company had revenue of $15 billion during 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 firm's quarterly revenue was up 20.2% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share 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 given a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.86%. Broadcom's payout ratio is 88.39%.

Broadcom declared that its Board of Directors has initiated a share 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 repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the sale, the director directly owned 33,352 shares in the company, valued at approximately $8,842,615.76. The trade was a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the sale, the insider owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. The trade was a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 829,716 shares of company stock valued at $216,933,761 in the last quarter. Corporate insiders own 2.00% of the company's stock.

Broadcom Company 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.