Greenleaf Trust Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Greenleaf Trust grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 116,966 shares of the semiconductor manufacturer's stock after purchasing an additional 3,670 shares during the quarter. Greenleaf Trust's holdings in Broadcom were worth $19,584,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom in the 4th quarter valued at about $30,000. Sellwood Investment Partners LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $32,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom during the first quarter valued at approximately $25,000. Finally, Inlight Wealth Management LLC bought a new stake in Broadcom in the first quarter valued at approximately $26,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 117,758 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the sale, the chief executive officer directly owned 1,014,152 shares of the company's stock, valued at $256,489,182.32. This trade represents a 10.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the completion of the transaction, the insider directly owned 789,784 shares in the company, valued at $199,720,577.92. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 854,716 shares of company stock worth $221,433,761. Company insiders own 2.00% of the company's stock.

Broadcom Stock Up 2.2%

Shares of NASDAQ AVGO traded up $6.10 during trading on Wednesday, hitting $277.90. The stock had a trading volume of 20,105,827 shares, compared to its average volume of 28,408,606. 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 firm has a fifty day moving average of $242.02 and a two-hundred day moving average of $217.92. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $279.37. The company has a market capitalization of $1.31 trillion, a PE ratio of 104.08, a PEG ratio of 1.95 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data 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. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the prior year, the firm posted $10.96 EPS. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom announced that its board has approved a share repurchase program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.85%. Broadcom's dividend payout ratio (DPR) is currently 88.39%.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research analyst reports. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Wells Fargo & Company upped their price target on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a report on Friday, June 6th. Oppenheimer increased their target price on Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Cowen reissued a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Finally, Redburn Atlantic assumed coverage on shares of Broadcom in a research note on Wednesday, May 28th. They set a "buy" rating and a $301.00 price target for the company. One research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $285.00.

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.