Everhart Financial Group Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,625 shares of the semiconductor manufacturer's stock after buying an additional 1,101 shares during the period. Broadcom accounts for 0.6% of Everhart Financial Group Inc.'s holdings, making the stock its 23rd biggest holding. Everhart Financial Group Inc.'s holdings in Broadcom were worth $4,458,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after buying an additional 18,845 shares in the last quarter. Nebula Research & Development LLC increased its stake in Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after purchasing an additional 14,399 shares in the last quarter. Kovack Advisors Inc. lifted its holdings in shares of Broadcom by 8.1% during the fourth quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer's stock valued at $7,971,000 after purchasing an additional 2,570 shares in the last quarter. SOA Wealth Advisors LLC. boosted its holdings in Broadcom by 50.6% in the fourth quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer's stock worth $245,000 after purchasing an additional 355 shares during the last quarter. Finally, Coppell Advisory Solutions LLC lifted its stake in shares of Broadcom by 1,512.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock worth $21,660,000 after purchasing an additional 86,884 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.
Broadcom Trading Down 2.9%
Shares of Broadcom stock traded down $7.37 on Friday, hitting $248.70. 19,002,301 shares of the company's stock traded hands, compared to its average volume of 30,540,402. The stock has a market capitalization of $1.17 trillion, a PE ratio of 202.86, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.43. The firm's 50-day moving average price is $211.15 and its two-hundred day moving average price is $208.57. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.
Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm's revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.96 earnings per share. On average, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.
Broadcom declared that its board has authorized a share buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.
Broadcom Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.95%. Broadcom's dividend payout ratio is 88.39%.
Insiders Place Their Bets
In other news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated Wednesday, June 11th. The stock was 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 directly owns 789,784 shares of the company's stock, valued at approximately $199,720,577.92. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 730,576 shares of company stock valued at $133,778,494 over the last ninety days. 2.00% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research firms have weighed in on AVGO. Evercore ISI restated an "outperform" rating and issued a $304.00 price target (up from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Cowen reissued a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Mizuho boosted their target price on shares of Broadcom from $300.00 to $310.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Rosenblatt Securities raised their price objective on Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, June 6th. Two investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $272.71.
Read Our Latest Report on AVGO
Broadcom Profile
(
Free Report)
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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