Comprehensive Financial Planning Inc. PA Sells 2,258 Shares of Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Comprehensive Financial Planning Inc. PA reduced its holdings in Broadcom Inc. by 68.3%, selling 2,258 shares to own 1,047 shares valued at $175,000 after the sale.
• Company insiders sold a total of 830,516 shares of Broadcom stock valued at approximately $217.2 million in the last quarter, with notable sales from Directors Justine Page and Henry Samueli.
• Analysts have notably increased their price targets for Broadcom, with Citigroup raising their target from $285 to $315, reflecting strong investor sentiment towards the company.

Comprehensive Financial Planning Inc. PA trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 68.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,047 shares of the semiconductor manufacturer's stock after selling 2,258 shares during the period. Comprehensive Financial Planning Inc. PA's holdings in Broadcom were worth $175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Keener Financial Planning LLC lifted its stake in shares of Broadcom by 34.8% in the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after buying an additional 230 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in shares of Broadcom in the first quarter valued at about $34,000. Associated Banc Corp raised its holdings in shares of Broadcom by 2.7% in the first quarter. Associated Banc Corp now owns 5,363 shares of the semiconductor manufacturer's stock valued at $898,000 after purchasing an additional 143 shares during the last quarter. ABC Arbitrage SA purchased a new stake in shares of Broadcom in the first quarter valued at about $1,577,000. Finally, LCM Capital Management Inc raised its holdings in shares of Broadcom by 3.6% in the first quarter. LCM Capital Management Inc now owns 12,505 shares of the semiconductor manufacturer's stock valued at $2,094,000 after purchasing an additional 439 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $274.30, for a total transaction of $219,440.00. Following the completion of the sale, the director directly owned 24,582 shares in the company, valued at $6,742,842.60. The trade was a 3.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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. Insiders sold a total of 830,516 shares of company stock valued at $217,224,641 over the last quarter. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

AVGO has been the subject of several analyst reports. Citigroup increased their target price on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a report on Monday, July 7th. The Goldman Sachs Group began coverage on shares of Broadcom in a report on Thursday, July 10th. They set a "buy" rating and a $315.00 price objective for the company. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Oppenheimer raised their price objective on shares of Broadcom from $265.00 to $305.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. One research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $294.92.

Broadcom Price Performance

AVGO stock opened at $297.72 on Tuesday. The firm has a 50 day moving average of $267.94 and a 200-day moving average of $224.92. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $306.95. The firm has a market capitalization of $1.40 trillion, a P/E ratio of 111.51, a price-to-earnings-growth ratio of 2.05 and a beta of 1.15.

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, beating 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 company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period last year, the business earned $10.96 earnings per share. Broadcom's revenue was up 20.2% compared to the same quarter last year. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom announced that its Board of Directors has initiated a stock repurchase plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.8%. Broadcom's payout ratio is presently 88.39%.

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.

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