Broadcom Inc. (NASDAQ:AVGO) is Compass Wealth Management LLC's 2nd Largest Position

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

Several other hedge funds have also made changes to their positions in AVGO. Barnes Dennig Private Wealth Management LLC acquired a new stake in Broadcom in the first quarter worth $25,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom during the fourth quarter worth about $26,000. Inlight Wealth Management LLC bought a new position in shares of Broadcom during the first quarter worth about $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom in the 4th quarter worth about $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Broadcom in the 4th quarter valued at about $30,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays upped their target price on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Wells Fargo & Company boosted their price objective on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday, June 6th. Evercore ISI reissued an "outperform" rating and issued a $304.00 price objective (up from $267.00) on shares of Broadcom in a report on Friday, June 6th. Bank of America lifted their target price on Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, June 6th. One investment analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of "Buy" and a consensus price target of $281.46.

Broadcom Price Performance

Shares of AVGO traded up $4.97 during mid-day trading on Friday, hitting $274.87. The company's stock had a trading volume of 10,592,655 shares, compared to its average volume of 28,575,138. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $277.71. The stock has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 102.95, a PEG ratio of 1.96 and a beta of 1.12. The firm has a 50-day moving average price of $238.77 and a 200 day moving average price 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.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. The firm 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%. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.96 earnings per share. On average, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.59 dividend. 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 has authorized a stock repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Activity at Broadcom

In other news, CFO Kirsten M. Spears sold 36,350 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the completion of the sale, the chief financial officer directly owned 325,587 shares of the company's stock, valued at $85,066,115.49. This represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Henry Samueli sold 473,898 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 854,716 shares of company stock valued at $221,433,761 over the last ninety days. Company 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.