Broadcom Inc. (NASDAQ:AVGO) Stake Lessened by Aspiriant LLC

Aspiriant LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,345 shares of the semiconductor manufacturer's stock after selling 1,132 shares during the period. Aspiriant LLC's holdings in Broadcom were worth $1,732,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVGO. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Broadcom by 3.8% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after purchasing an additional 18,845 shares during the last quarter. Nebula Research & Development LLC grew its position in shares of Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after buying an additional 14,399 shares during the last quarter. Kovack Advisors Inc. grew its position in shares of Broadcom by 8.1% during the 4th quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer's stock valued at $7,971,000 after buying an additional 2,570 shares during the last quarter. SOA Wealth Advisors LLC. grew its holdings in shares of Broadcom by 50.6% during the fourth quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer's stock valued at $245,000 after purchasing an additional 355 shares during the last quarter. Finally, Coppell Advisory Solutions LLC grew its holdings in shares of Broadcom by 1,512.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock valued at $21,660,000 after purchasing an additional 86,884 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

AVGO stock opened at $249.37 on Wednesday. The company has a market capitalization of $1.17 trillion, a price-to-earnings ratio of 93.40, a P/E/G ratio of 1.79 and a beta of 1.11. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $265.43. The firm has a 50 day moving average of $216.21 and a two-hundred day moving average of $210.74. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

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 (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm's revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.96 EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

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

Broadcom Dividend Announcement

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 issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

Insider Buying and Selling

In other news, Director Henry Samueli sold 663,976 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the completion of the sale, the insider now directly owns 789,784 shares of the company's stock, valued at approximately $199,720,577.92. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 848,334 shares of company stock valued at $163,560,669. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Susquehanna upped their target price on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a report on Friday, June 6th. Morgan Stanley upped their price objective on Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Redburn Atlantic began coverage on shares of Broadcom in a research report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, June 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Three research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and a consensus target price of $276.09.

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.

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