Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Brookstone Capital Management

Brookstone Capital Management raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 28.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,919 shares of the semiconductor manufacturer's stock after purchasing an additional 10,912 shares during the quarter. Brookstone Capital Management's holdings in Broadcom were worth $8,358,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom in the first quarter valued at $25,000. Rialto Wealth Management LLC bought a new position in Broadcom in the 4th quarter worth $26,000. Inlight Wealth Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Broadcom in the 4th quarter worth approximately $30,000. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Down 0.4%

AVGO stock traded down $1.09 during trading on Monday, reaching $274.09. 11,120,360 shares of the stock traded hands, compared to its average volume of 28,506,908. 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 business's 50 day moving average price is $238.77 and its 200-day moving average price is $217.17. The firm has a market capitalization of $1.29 trillion, a PE ratio of 102.65, a P/E/G ratio of 1.96 and a beta of 1.12. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $277.71.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion for 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 earnings per share. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is 88.39%.

Broadcom declared that its Board of Directors has approved a stock buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

AVGO has been the topic of a number of research analyst reports. Citigroup upped their target price on shares of Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a research note on Monday. Wells Fargo & Company upped their price target on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a report on Friday, June 6th. Mizuho increased their price objective on shares of Broadcom from $310.00 to $315.00 and gave the company an "outperform" rating in a report on Thursday. Bank of America lifted their price target on shares of Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Barclays boosted their price target on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. One 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. Based on data from MarketBeat, Broadcom presently has a consensus rating of "Buy" and an average price target of $282.71.

Insider Activity

In related news, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction dated 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 56,310 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the transaction, the chief financial officer owned 361,937 shares in the company, valued at $91,117,639.75. The trade was a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 854,716 shares of company stock valued at $221,433,761. Corporate insiders own 2.00% of the company's stock.

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.