Broadcom Inc. (NASDAQ:AVGO) Stock Position Lessened by Compass Wealth Management LLC

Compass Wealth Management LLC reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,572 shares of the semiconductor manufacturer's stock after selling 15,560 shares during the quarter. Broadcom comprises approximately 4.8% of Compass Wealth Management LLC's portfolio, making the stock its 2nd biggest holding. Compass Wealth Management LLC's holdings in Broadcom were worth $18,848,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sierra Ocean LLC lifted its position in Broadcom by 16.7% in the 1st quarter. Sierra Ocean LLC now owns 2,089 shares of the semiconductor manufacturer's stock worth $350,000 after buying an additional 299 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co LLC lifted its holdings in shares of Broadcom by 25.6% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co LLC now owns 5,275 shares of the semiconductor manufacturer's stock worth $883,000 after acquiring an additional 1,075 shares during the last quarter. Core Alternative Capital boosted its stake in shares of Broadcom by 1.7% in the 1st quarter. Core Alternative Capital now owns 11,992 shares of the semiconductor manufacturer's stock valued at $2,008,000 after purchasing an additional 200 shares in the last quarter. Olistico Wealth LLC boosted its stake in shares of Broadcom by 6.8% in the 1st quarter. Olistico Wealth LLC now owns 10,766 shares of the semiconductor manufacturer's stock valued at $1,803,000 after purchasing an additional 688 shares in the last quarter. Finally, Sutton Place Investors LLC grew its holdings in shares of Broadcom by 6.9% during the 1st quarter. Sutton Place Investors LLC now owns 3,070 shares of the semiconductor manufacturer's stock valued at $514,000 after purchasing an additional 197 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the sale, the insider owned 415,956 shares in the company, valued at $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 56,310 shares of the firm's 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 sale, the chief financial officer directly owned 361,937 shares of the company's stock, valued at $91,117,639.75. This trade represents a 13.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 854,716 shares of company stock worth $221,433,761 over the last quarter. 2.00% of the stock is owned by insiders.

Broadcom Stock Up 0.6%

AVGO stock traded up $1.58 during midday trading on Monday, hitting $276.76. The stock had a trading volume of 6,716,101 shares, compared to its average volume of 28,489,154. The business has a 50-day moving average of $238.77 and a two-hundred day moving average of $217.17. 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 firm has a market cap of $1.30 trillion, a price-to-earnings ratio of 103.68, a price-to-earnings-growth 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 earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the prior year, the firm earned $10.96 EPS. The company's revenue was up 20.2% compared to the same quarter last year. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

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

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 yield of 0.85%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is 88.39%.

Analysts Set New Price Targets

Several analysts have weighed in on AVGO shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, June 6th. Oppenheimer boosted their target price on Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Rosenblatt Securities increased their target price on Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a report on Friday, June 6th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Mizuho increased their price objective on Broadcom from $310.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $281.46.

About Broadcom

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.