Capital Advisors Inc. OK Has $29.36 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Capital Advisors Inc. OK lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 175,346 shares of the semiconductor manufacturer's stock after selling 15,087 shares during the quarter. Capital Advisors Inc. OK's holdings in Broadcom were worth $29,358,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC bought a new stake in shares of Broadcom during the fourth quarter worth $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom during the fourth quarter worth $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom in the fourth quarter valued at $30,000. Sellwood Investment Partners LLC bought a new position in Broadcom in the fourth quarter valued at $32,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom in the first quarter valued at $25,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on AVGO shares. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a research report on Tuesday, June 24th. Barclays raised their target price on shares of Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Evercore ISI reaffirmed an "outperform" rating and issued a $304.00 target price (up previously from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Benchmark raised their target price on shares of Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, June 6th. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of "Buy" and a consensus target price of $282.71.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $0.30 during midday trading on Tuesday, reaching $273.88. 4,220,885 shares of the company were exchanged, compared to its average volume of 28,432,357. The stock's 50-day moving average price is $240.40 and its 200-day moving average price is $217.54. The stock has a market cap of $1.29 trillion, a P/E ratio of 102.58, a PEG ratio of 1.96 and a beta of 1.12. Broadcom Inc. has a one year low of $128.50 and a one year high of $277.71. 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 issued its quarterly earnings results 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 company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. Broadcom's revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.96 earnings per share. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

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 buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom 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 transaction, the insider owned 789,784 shares in the company, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 56,310 shares of the business's stock in a transaction 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 completion of the transaction, the chief financial officer owned 361,937 shares in the company, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 854,716 shares of company stock valued at $221,433,761 in the last quarter. 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.