Heck Capital Advisors LLC Has $453,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Heck Capital Advisors LLC significantly reduced its holdings in Broadcom Inc. by 68.6%, holding 2,708 shares valued at $453,000 after selling 5,906 shares in the first quarter.
• Institutional investors now own 76.43% of Broadcom's stock, with notable increases in holdings from firms like Vanguard Group Inc. and Price T Rowe Associates Inc. MD.
• Broadcom recently reported earnings of $1.58 per share, exceeding expectations, and announced a quarterly dividend of $0.59, reflecting a dividend yield of 0.8%.

Heck Capital Advisors LLC reduced its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 68.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,708 shares of the semiconductor manufacturer's stock after selling 5,906 shares during the period. Heck Capital Advisors LLC's holdings in Broadcom were worth $453,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Broadcom by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after acquiring an additional 2,085,534 shares during the period. Northern Trust Corp grew its position in shares of Broadcom by 12.0% in the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after acquiring an additional 5,258,925 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Broadcom by 46.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock valued at $11,018,089,000 after acquiring an additional 15,171,849 shares during the period. Nuveen LLC bought a new position in shares of Broadcom in the 1st quarter valued at about $6,649,117,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Broadcom by 1.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock valued at $7,975,616,000 after acquiring an additional 581,704 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

NASDAQ AVGO opened at $312.83 on Wednesday. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $313.44. The company has a 50-day simple moving average of $275.10 and a 200 day simple moving average of $227.64. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The company has a market capitalization of $1.47 trillion, a PE ratio of 117.16, a price-to-earnings-growth ratio of 2.16 and a beta of 1.15.

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

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the transaction, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were 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 owned 789,784 shares of the company's stock, 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 829,716 shares of company stock valued at $217,040,489. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AVGO. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Citigroup upped their price target on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Finally, Redburn Atlantic started coverage on shares of Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price target on the stock. Two analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $294.92.

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.

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