Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Dividend Assets Capital LLC

Dividend Assets Capital LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,113.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,876 shares of the semiconductor manufacturer's stock after buying an additional 19,156 shares during the quarter. Dividend Assets Capital LLC's holdings in Broadcom were worth $3,495,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Canton Hathaway LLC acquired a new position in shares of Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in Broadcom in the 4th quarter valued at $26,000. Sunbeam Capital Management LLC acquired a new position in Broadcom in the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. acquired a new position in Broadcom in the 4th quarter valued at $30,000. Finally, Sellwood Investment Partners LLC acquired a new position in Broadcom in the 4th quarter valued at $32,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 2.9%

Shares of NASDAQ AVGO traded down $7.37 during mid-day trading on Friday, reaching $248.70. 19,002,301 shares of the company's stock were exchanged, compared to its average volume of 30,540,402. The firm has a market capitalization of $1.17 trillion, a price-to-earnings ratio of 202.86, a PEG ratio of 2.29 and a beta of 1.11. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $265.43. The company's 50-day moving average is $213.01 and its 200-day moving average is $209.15.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results 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 return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same period last year, the business posted $10.96 EPS. Broadcom's revenue for the quarter was up 20.2% on a year-over-year basis. Analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Friday, June 20th. Broadcom's dividend payout ratio (DPR) is 88.39%.

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

Analysts Set New Price Targets

Several research firms recently commented on AVGO. Benchmark increased their price objective on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research note 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 research note on Friday, June 6th. Truist Financial set a $295.00 price objective on Broadcom and gave the company a "buy" rating in a research note on Friday, June 6th. Morgan Stanley increased their price objective on Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Finally, UBS Group increased their price objective on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average price target of $272.71.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $180.00, for a total value of $4,500,000.00. Following the completion of the transaction, the insider now owns 465,956 shares in the company, valued at approximately $83,872,080. This trade represents a 5.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total value of $2,528,800.00. Following the completion of the transaction, the insider now owns 789,784 shares of the company's stock, valued at $199,720,577.92. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 730,576 shares of company stock worth $133,778,494 in the last three months. 2.00% of the stock is owned by company insiders.

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.