Fort Washington Investment Advisors Inc. OH Sells 20,129 Shares of Broadcom Inc. (NASDAQ:AVGO)

Fort Washington Investment Advisors Inc. OH lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 635,300 shares of the semiconductor manufacturer's stock after selling 20,129 shares during the period. Fort Washington Investment Advisors Inc. OH's holdings in Broadcom were worth $106,368,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Canton Hathaway LLC bought a new stake in Broadcom during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the 4th quarter worth about $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom during the 4th quarter valued at about $28,000. Vermillion Wealth Management Inc. purchased a new stake in Broadcom during the 4th quarter valued at $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AVGO. Cowen reiterated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Evercore ISI reissued an "outperform" rating and set a $304.00 target price (up from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Mizuho raised their target price on shares of Broadcom from $300.00 to $310.00 and gave the company an "outperform" rating in a research report on Friday, June 6th. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Finally, Citigroup upped their price objective on shares of Broadcom from $276.00 to $285.00 and gave the company a "buy" rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and an average price target of $272.71.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded up $3.16 during trading on Thursday, reaching $256.07. The stock had a trading volume of 20,362,986 shares, compared to its average volume of 30,820,128. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $265.43. The business's 50-day moving average price is $209.12 and its 200 day moving average price is $207.94. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $1.20 trillion, a PE ratio of 208.87, a P/E/G ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $14.98 billion. During the same quarter in the previous year, the business earned $10.96 EPS. The firm's revenue was up 20.2% on a year-over-year basis. As a group, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.92%. Broadcom's dividend payout ratio is 88.39%.

Broadcom announced that its Board of Directors has initiated a share buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction on Monday, March 24th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 720,576 shares of company stock worth $131,249,694. Corporate insiders own 2.00% of the company's stock.

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.