GKV Capital Management Co. Inc. Has $75,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• GKV Capital Management Co. Inc. reduced its holdings in Broadcom Inc. by 99.3%, owning only 448 shares valued at $75,000 after selling 61,052 shares in the first quarter.
• Institutional investors currently hold 76.43% of Broadcom's stock, with significant increases in holdings from other hedge funds, highlighting a dynamic investment landscape.
• Analysts have positive projections for Broadcom, with a consensus rating of "Buy" and various price targets exceeding $300 from multiple firms, indicating strong market confidence.

GKV Capital Management Co. Inc. decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 99.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 448 shares of the semiconductor manufacturer's stock after selling 61,052 shares during the period. GKV Capital Management Co. Inc.'s holdings in Broadcom were worth $75,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom in the 1st quarter worth approximately $25,000. Cheviot Value Management LLC acquired a new position in Broadcom during the 1st quarter worth $25,000. Inlight Wealth Management LLC acquired a new position in shares of Broadcom during the first quarter valued at $26,000. Sunbeam Capital Management LLC acquired a new position in shares of Broadcom during the fourth quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Broadcom during the 4th quarter worth $30,000. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 1.2%

NASDAQ:AVGO traded down $3.74 on Wednesday, hitting $309.09. 17,344,261 shares of the company's stock were exchanged, compared to its average volume of 16,969,746. The firm has a 50-day moving average price of $276.06 and a 200-day moving average price of $228.20. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $317.35. The company has a market cap of $1.45 trillion, a P/E ratio of 115.76, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15.

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

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a dividend of $0.59 per share. 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 payout ratio is 88.39%.

Wall Street Analyst Weigh In

A number of research firms have commented on AVGO. Morgan Stanley set a $338.00 target price on shares of Broadcom and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Citigroup lifted their target price on shares of Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Mizuho lifted their target price on shares of Broadcom from $315.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. KeyCorp boosted their price target on shares of Broadcom from $315.00 to $330.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Cowen reissued a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Two research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Broadcom has a consensus rating of "Buy" and an average target price of $294.92.

Insider Activity

In other news, Director Gayla J. Delly sold 3,000 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the sale, the director directly owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. This represents a 8.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 40,000 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the sale, the chief executive officer directly owned 482,836 shares in the company, valued at approximately $129,540,070.44. The trade was a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 829,716 shares of company stock worth $217,040,489. 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.