Founders Financial Alliance LLC Acquires 2,843 Shares of Broadcom Inc. (NASDAQ:AVGO)

Founders Financial Alliance LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,902 shares of the semiconductor manufacturer's stock after acquiring an additional 2,843 shares during the period. Broadcom accounts for 1.0% of Founders Financial Alliance LLC's portfolio, making the stock its 18th largest holding. Founders Financial Alliance LLC's holdings in Broadcom were worth $4,169,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Vanguard Group Inc. lifted its position in Broadcom by 0.4% during the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after acquiring an additional 2,085,534 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after buying an additional 5,258,925 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Broadcom by 46.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock worth $11,018,089,000 after purchasing an additional 15,171,849 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Broadcom by 1.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock valued at $7,975,616,000 after acquiring an additional 581,704 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Broadcom by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock valued at $5,668,134,000 after acquiring an additional 1,043,948 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Rosenblatt Securities boosted their price objective on shares of Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, June 6th. Arete Research upgraded Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Finally, Redburn Atlantic assumed coverage on Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 target price on the stock. One investment analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Broadcom has a consensus rating of "Buy" and a consensus target price of $294.92.

Broadcom Stock Performance

Shares of AVGO stock opened at $303.76 on Friday. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 113.77, a price-to-earnings-growth ratio of 2.15 and a beta of 1.15. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $310.34. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $271.57 and a 200-day moving average of $226.37.

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

Broadcom Announces Dividend

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

Insider Buying and Selling

In other Broadcom news, CFO Kirsten M. Spears sold 36,350 shares of Broadcom stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the completion of the transaction, the chief financial officer owned 325,587 shares of the company's stock, valued at $85,066,115.49. The trade was a 10.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 40,000 shares of Broadcom stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the transaction, the chief executive officer directly owned 482,836 shares of the company's stock, valued at $129,540,070.44. The trade was a 7.65% 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 in the last quarter. 2.00% of the stock is currently owned by company insiders.

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.

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