Broadcom Inc. (NASDAQ:AVGO) Holdings Lifted by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 54.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,530 shares of the semiconductor manufacturer's stock after purchasing an additional 22,058 shares during the quarter. Broadcom accounts for approximately 1.4% of GPS Wealth Strategies Group LLC's portfolio, making the stock its 14th largest holding. GPS Wealth Strategies Group LLC's holdings in Broadcom were worth $10,469,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter valued at approximately $26,000. Sunbeam Capital Management LLC acquired a new stake in Broadcom during the 4th quarter valued at approximately $28,000. Vermillion Wealth Management Inc. acquired a new stake in Broadcom during the 4th quarter valued at approximately $30,000. Finally, Sellwood Investment Partners LLC acquired a new stake in Broadcom during the 4th quarter valued at approximately $32,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction on 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 transaction, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom 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. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 720,576 shares of company stock worth $131,249,694. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

Broadcom stock traded up $3.16 during mid-day trading on Thursday, hitting $256.07. 20,362,986 shares of the company's stock traded hands, compared to its average volume of 30,820,128. The firm has a 50 day moving average price of $209.12 and a 200 day moving average price of $207.94. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.20 trillion, a PE ratio of 208.87, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.96 EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its Board of Directors has authorized a share repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AVGO. JPMorgan Chase & Co. raised their price objective on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. KeyCorp raised their price objective on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price on shares of Broadcom in a report on Friday, June 6th. Finally, Citigroup increased their target price on Broadcom from $276.00 to $285.00 and gave the stock 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $272.71.

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.