4,328 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Good Steward Wealth Advisors LLC

Good Steward Wealth Advisors LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,328 shares of the semiconductor manufacturer's stock, valued at approximately $725,000.

Other hedge funds also recently modified their holdings of the company. Canton Hathaway LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom during the fourth quarter worth about $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom during the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. purchased a new position in Broadcom during the fourth quarter worth about $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in Broadcom during the fourth quarter worth about $32,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 663,976 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 849,134 shares of company stock worth $163,760,949. Company insiders own 2.00% of the company's stock.

Broadcom Stock Performance

AVGO stock traded down $1.27 on Friday, reaching $249.99. The company's stock had a trading volume of 42,100,140 shares, compared to its average volume of 29,751,835. 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 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The company has a market capitalization of $1.18 trillion, a P/E ratio of 93.63, a price-to-earnings-growth ratio of 1.79 and a beta of 1.11. The firm has a fifty day moving average of $220.48 and a two-hundred day moving average of $212.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion during 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%. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.96 earnings per share. As a group, analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom announced that its board has initiated a share 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 buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date is Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.94%. Broadcom's dividend payout ratio is currently 88.39%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AVGO. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Truist Financial set a $295.00 price target on shares of Broadcom and gave the stock a "buy" rating in a research note on Friday, June 6th. Benchmark increased their price target on shares of Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Redburn Atlantic initiated coverage on Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective for the company. 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 company. According to data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average price target of $276.09.

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.