Daymark Wealth Partners LLC Purchases 13,833 Shares of Broadcom Inc. (NASDAQ:AVGO)

Daymark Wealth Partners LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 149,218 shares of the semiconductor manufacturer's stock after acquiring an additional 13,833 shares during the quarter. Broadcom comprises about 0.9% of Daymark Wealth Partners LLC's investment portfolio, making the stock its 26th largest position. Daymark Wealth Partners LLC's holdings in Broadcom were worth $24,984,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. SlateStone Wealth LLC raised its stake in shares of Broadcom by 0.3% during the fourth quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock worth $3,207,000 after purchasing an additional 47 shares during the last quarter. True Wealth Design LLC grew its position in shares of Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after purchasing an additional 48 shares during the last quarter. DT Investment Partners LLC raised its stake in Broadcom by 0.9% in the 4th quarter. DT Investment Partners LLC now owns 5,397 shares of the semiconductor manufacturer's stock valued at $1,251,000 after purchasing an additional 50 shares during the last quarter. Bfsg LLC boosted its position in Broadcom by 12.5% during the fourth quarter. Bfsg LLC now owns 451 shares of the semiconductor manufacturer's stock worth $105,000 after acquiring an additional 50 shares during the last quarter. Finally, Global Strategic Investment Solutions LLC grew its holdings in Broadcom by 1.5% in the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock valued at $782,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the transaction, the director now directly owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This represents a 1.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 720,576 shares of company stock valued at $131,249,694. Corporate insiders own 2.00% of the company's stock.

Broadcom Trading Up 0.1%

NASDAQ:AVGO traded up $0.35 during trading hours on Tuesday, hitting $244.63. 25,457,534 shares of the stock were exchanged, compared to its average volume of 31,006,245. The company's 50 day moving average is $205.17 and its two-hundred day moving average is $207.37. The company has a market capitalization of $1.15 trillion, a P/E ratio of 199.54, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $265.43. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company 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 company posted $10.96 EPS. The company's revenue was up 20.2% compared to the same quarter last year. On average, sell-side analysts anticipate 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 allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Analysts Set New Price Targets

AVGO has been the subject of several recent research reports. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Wells Fargo & Company boosted their price target on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday. Susquehanna boosted their price objective on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday. Finally, Evercore ISI upped their target price on Broadcom from $267.00 to $304.00 and gave the company an "outperform" rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $272.71.

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.