Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,970 shares of the semiconductor manufacturer's stock after buying an additional 1,677 shares during the quarter. Broadcom comprises about 0.7% of Catalyst Financial Partners LLC's portfolio, making the stock its 25th biggest holding. Catalyst Financial Partners LLC's holdings in Broadcom were worth $3,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom in the 1st quarter valued at about $25,000. Inlight Wealth Management LLC purchased a new position in shares of Broadcom in the first quarter valued at approximately $26,000. Sunbeam Capital Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. purchased a new stake in Broadcom during the 4th quarter worth approximately $30,000. Finally, Wood Tarver Financial Group LLC lifted its holdings in Broadcom by 342.5% during the 1st quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock worth $30,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In related news, Director Gayla J. Delly sold 3,000 shares of the firm's stock in a transaction dated 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 owned 33,352 shares in the company, valued at $8,842,615.76. This trade represents a 8.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the sale, the director owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 828,916 shares of company stock worth $216,785,761. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $1.22 during mid-day trading on Monday, hitting $275.60. 11,919,324 shares of the company were exchanged, compared to its average volume of 27,885,428. The stock has a 50 day simple moving average of $246.70 and a 200-day simple moving average of $218.54. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $281.18. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The firm has a market cap of $1.30 trillion, a price-to-earnings ratio of 103.22, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.96 earnings per share. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

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

Broadcom Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group boosted their price target on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Barclays boosted their target price on Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Morgan Stanley increased their price target on Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a research report on Tuesday, June 24th. One research 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's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $290.21.

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.