Broadcom Inc. (NASDAQ:AVGO) Stake Trimmed by Huntleigh Advisors Inc.

Huntleigh Advisors Inc. lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 23.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,628 shares of the semiconductor manufacturer's stock after selling 19,700 shares during the period. Broadcom accounts for approximately 2.1% of Huntleigh Advisors Inc.'s holdings, making the stock its 8th biggest position. Huntleigh Advisors Inc.'s holdings in Broadcom were worth $10,988,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Broadcom in the fourth quarter worth $16,893,010,000. GAMMA Investing LLC boosted its stake in Broadcom by 18,179.3% in the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after purchasing an additional 17,181,652 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 worth $11,018,089,000 after purchasing an additional 15,171,849 shares in the last quarter. GQG Partners LLC boosted its stake in Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock worth $2,367,819,000 after purchasing an additional 6,809,245 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after purchasing an additional 6,573,204 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction 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 $105,353,335.68. The trade was a 10.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 117,758 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the transaction, the chief executive officer directly owned 1,014,152 shares of the company's stock, valued at $256,489,182.32. The trade was a 10.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 854,716 shares of company stock worth $221,433,761. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Barclays upped their price target on Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Benchmark upped their target price on shares of Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Citigroup upped their target price on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research note on Monday. One research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $282.71.

Broadcom Stock Down 0.4%

Shares of Broadcom stock traded down $1.00 during trading on Monday, reaching $274.18. The company's stock had a trading volume of 16,743,337 shares, compared to its average volume of 28,527,862. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The company has a market cap of $1.29 trillion, a price-to-earnings ratio of 102.69, a P/E/G ratio of 1.96 and a beta of 1.12. The company has a 50-day simple moving average of $240.40 and a two-hundred day simple moving average of $217.54. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $277.71.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts' consensus estimates 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 firm's revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.96 EPS. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

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

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is presently 88.39%.

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.