Exencial Wealth Advisors LLC Raises Position in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Exencial Wealth Advisors LLC significantly increased its stake in Broadcom by 57.8%, now holding 130,573 shares valued at approximately $21.86 million, making it the firm's 29th largest holding.
• Institutional investors have a strong presence in Broadcom, holding 76.43% of the company's stock, with major increases in stakes from firms like Vanguard Group and Goldman Sachs.
• Broadcom recently reported earnings of $1.58 per share, surpassing estimates, and declared a quarterly dividend of $0.59, resulting in a yield of 0.8%.

Exencial Wealth Advisors LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 57.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,573 shares of the semiconductor manufacturer's stock after buying an additional 47,853 shares during the quarter. Broadcom makes up 0.8% of Exencial Wealth Advisors LLC's holdings, making the stock its 29th largest position. Exencial Wealth Advisors LLC's holdings in Broadcom were worth $21,862,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. True Wealth Design LLC lifted 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 acquiring an additional 48 shares in the last quarter. Fulton Breakefield Broenniman LLC lifted its position in shares of Broadcom by 2.4% in the first quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock valued at $357,000 after acquiring an additional 50 shares in the last quarter. American Financial Advisors LLC increased its holdings in shares of Broadcom by 3.8% in the first quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer's stock valued at $240,000 after purchasing an additional 52 shares during the last quarter. GS Investments Inc. increased its holdings in shares of Broadcom by 0.5% in the first quarter. GS Investments Inc. now owns 11,397 shares of the semiconductor manufacturer's stock valued at $1,908,000 after purchasing an additional 52 shares during the last quarter. Finally, First Bank & Trust increased its holdings in shares of Broadcom by 1.9% in the first quarter. First Bank & Trust now owns 2,945 shares of the semiconductor manufacturer's stock valued at $493,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the transaction, the insider owned 415,956 shares in the company, valued at $105,353,335.68. The trade was a 10.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock worth $217,224,641 over the last three months. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

Shares of Broadcom stock traded up $8.74 on Wednesday, hitting $301.67. The stock had a trading volume of 17,275,421 shares, compared to its average volume of 17,267,806. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $306.95. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The stock has a market cap of $1.42 trillion, a price-to-earnings ratio of 112.99, a P/E/G ratio of 2.08 and a beta of 1.15. The company's 50 day moving average price is $270.33 and its 200 day moving average price is $225.92.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the previous year, the business earned $10.96 EPS. The business's quarterly revenue was up 20.2% on a year-over-year basis. On average, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

Analysts Set New Price Targets

AVGO has been the subject of several recent research reports. Morgan Stanley set a $338.00 price target on Broadcom and gave the company an "overweight" rating in a report on Wednesday, July 30th. Truist Financial set a $295.00 target price on Broadcom and gave the stock a "buy" rating in a research note on Friday, June 6th. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a research note on Tuesday, June 24th. JPMorgan Chase & Co. raised their target price on Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Finally, Wells Fargo & Company raised their target price on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research note on Friday, June 6th. One analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of "Buy" and a consensus target price of $294.92.

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.