Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Invictus Private Wealth LLC

Key Points

• Invictus Private Wealth LLC increased its holdings in Broadcom Inc. by 2.6% in the first quarter, now owning 122,534 shares valued at approximately $20.52 million.
• Broadcom’s recent earnings report showed a quarterly revenue of $15 billion and an EPS of $1.58, exceeding analyst estimates.
• The company has a strong institutional presence, with 76.43% of the stock owned by institutional investors, indicating robust confidence in its market performance.

Invictus Private Wealth LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,534 shares of the semiconductor manufacturer's stock after acquiring an additional 3,145 shares during the quarter. Broadcom accounts for approximately 1.6% of Invictus Private Wealth LLC's investment portfolio, making the stock its 16th biggest holding. Invictus Private Wealth LLC's holdings in Broadcom were worth $20,516,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom in the first quarter valued at about $25,000. Inlight Wealth Management LLC acquired a new stake in Broadcom during the first quarter worth about $26,000. Sunbeam Capital Management LLC acquired a new stake in Broadcom during the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. acquired a new stake in Broadcom during the fourth quarter worth about $30,000. Finally, Wood Tarver Financial Group LLC grew its stake in Broadcom by 342.5% during the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock worth $30,000 after buying an additional 137 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO stock traded down $5.06 during mid-day trading on Friday, reaching $288.64. The stock had a trading volume of 21,405,316 shares, compared to its average volume of 15,995,794. The business's fifty day moving average is $266.56 and its 200-day moving average is $224.55. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The firm has a market cap of $1.36 trillion, a price-to-earnings ratio of 108.10, a PEG ratio of 2.09 and a beta of 1.15. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $306.95.

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

Broadcom Announces Dividend

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

Broadcom announced that its board has initiated a stock repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. KeyCorp increased their price objective on shares of Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Finally, Arete Research upgraded shares of Broadcom to a "strong-buy" rating in a report on Monday. One equities research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Broadcom has an average rating of "Buy" and an average price target of $294.92.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the firm's stock in a transaction on 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the sale, the director directly owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock valued at $217,224,641 in the last 90 days. 2.00% of the stock is owned by insiders.

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.