Invera Wealth Advisors LLC Has $1.16 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Invera Wealth Advisors LLC decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,897 shares of the semiconductor manufacturer's stock after selling 1,567 shares during the period. Broadcom accounts for about 1.4% of Invera Wealth Advisors LLC's portfolio, making the stock its 23rd largest holding. Invera Wealth Advisors LLC's holdings in Broadcom were worth $1,158,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in AVGO. Brighton Jones LLC boosted its position in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after buying an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after purchasing an additional 756 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock valued at $51,283,000 after purchasing an additional 31,225 shares during the last quarter. Highview Capital Management LLC DE boosted its stake in shares of Broadcom by 1.3% during the fourth quarter. Highview Capital Management LLC DE now owns 25,522 shares of the semiconductor manufacturer's stock valued at $5,917,000 after purchasing an additional 322 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in shares of Broadcom by 46.2% during the fourth quarter. Proficio Capital Partners LLC now owns 19,529 shares of the semiconductor manufacturer's stock worth $4,528,000 after purchasing an additional 6,168 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research reports. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Barclays increased their target price on shares of Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Bank of America lifted their price target on Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Cowen reiterated a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Finally, Evercore ISI reissued an "outperform" rating and issued a $304.00 price target (up from $267.00) on shares of Broadcom in a report on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $290.21.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total value of $2,528,800.00. Following the sale, the insider directly owned 789,784 shares of the company's stock, valued at $199,720,577.92. This represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 56,310 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the completion of the sale, the chief financial officer directly owned 361,937 shares in the company, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 828,916 shares of company stock valued at $216,785,761. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Up 0.4%

Shares of NASDAQ:AVGO opened at $275.60 on Tuesday. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $281.18. The business's fifty day simple moving average is $248.20 and its 200-day simple moving average is $218.77. The company has a market capitalization of $1.30 trillion, a PE ratio of 103.22, a P/E/G ratio of 1.95 and a beta of 1.12. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89.

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

Broadcom Announces Dividend

The company 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 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

Broadcom declared that its board has initiated a stock buyback plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

About Broadcom

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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