Goldstone Financial Group LLC Sells 1,032 Shares of Broadcom Inc. (NASDAQ:AVGO)

Goldstone Financial Group LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,706 shares of the semiconductor manufacturer's stock after selling 1,032 shares during the quarter. Goldstone Financial Group LLC's holdings in Broadcom were worth $788,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, June 6th. JPMorgan Chase & Co. raised their target price on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Susquehanna increased their price target on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. Finally, William Blair reiterated an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and an average target price of $276.09.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 800 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares of the company's stock, valued at $4,695,300. This represents a 3.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the sale, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This trade represents 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 insiders.

Broadcom Trading Down 2.9%

Shares of AVGO stock traded down $7.37 during mid-day trading on Friday, hitting $248.70. The company's stock had a trading volume of 19,002,301 shares, compared to its average volume of 30,383,406. The company's fifty day simple moving average is $213.01 and its 200-day simple moving average is $209.50. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $265.43. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market cap of $1.17 trillion, a PE ratio of 202.86, a P/E/G ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period in the previous year, the company posted $10.96 EPS. The firm's revenue was up 20.2% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, June 20th. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Broadcom announced that its Board of Directors has approved a stock repurchase program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

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.