Daymark Wealth Partners LLC Boosts Position in Broadcom Inc. (NASDAQ:AVGO)

Daymark Wealth Partners LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 149,218 shares of the semiconductor manufacturer's stock after buying an additional 13,833 shares during the quarter. Broadcom accounts for about 1.1% of Daymark Wealth Partners LLC's investment portfolio, making the stock its 17th largest position. Daymark Wealth Partners LLC's holdings in Broadcom were worth $24,984,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AVGO. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Broadcom by 3.8% during 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 acquiring an additional 18,845 shares during the last quarter. Nebula Research & Development LLC increased its stake in shares of 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. Kovack Advisors Inc. raised its holdings in Broadcom by 8.1% in the 4th quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer's stock worth $7,971,000 after purchasing an additional 2,570 shares during the period. SOA Wealth Advisors LLC. lifted its position in 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 in the last quarter. Finally, Coppell Advisory Solutions LLC grew its holdings in 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 period. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares of the company's stock, valued at approximately $83,872,080. The trade was a 5.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 40,000 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $262.17, for a total transaction of $10,486,800.00. Following the transaction, the chief executive officer now owns 974,152 shares in the company, valued at $255,393,429.84. The trade was a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 301,468 shares of company stock worth $74,670,250. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of Broadcom stock traded up $5.52 during trading hours on Thursday, reaching $270.17. The company's stock had a trading volume of 23,540,196 shares, compared to its average volume of 29,084,360. The firm has a 50 day moving average price of $225.48 and a 200-day moving average price of $213.98. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The stock has a market cap of $1.27 trillion, a P/E ratio of 101.19, a P/E/G ratio of 1.88 and a beta of 1.11. Broadcom Inc. has a one year low of $128.50 and a one year high of $271.62.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS 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 company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same quarter last year, the business posted $10.96 earnings per share. The firm's revenue was up 20.2% on a year-over-year basis. On average, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom announced that its Board of Directors has initiated a share buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Friday, June 20th. Broadcom's dividend payout ratio (DPR) is 88.39%.

Analyst Ratings Changes

AVGO has been the subject of a number of analyst reports. Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Susquehanna boosted their price objective on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. Redburn Atlantic began coverage on shares of Broadcom in a research note on Wednesday, May 28th. They set a "buy" rating and a $301.00 target price on the stock. Mizuho lifted their price target on shares of Broadcom from $300.00 to $310.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Finally, William Blair reiterated an "outperform" rating on shares of Broadcom in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of "Buy" and a consensus target price of $281.25.

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.