J. Safra Sarasin Holding AG Has $89.44 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• J. Safra Sarasin Holding AG increased its holdings in Broadcom Inc. by 1.5%, bringing its total shares to 533,848, valued at approximately $89.44 million.
• Broadcom declared a quarterly dividend of $0.59, which reflects a 0.8% yield, and has a current payout ratio of 88.39%.
• Recent analyst reports have resulted in increased price targets for Broadcom shares, with the average consensus price target now at $294.92, and over half of analysts rating the stock as a "buy."

J. Safra Sarasin Holding AG raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 533,848 shares of the semiconductor manufacturer's stock after purchasing an additional 7,827 shares during the quarter. Broadcom accounts for approximately 1.6% of J. Safra Sarasin Holding AG's investment portfolio, making the stock its 10th largest holding. J. Safra Sarasin Holding AG's holdings in Broadcom were worth $89,436,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Sunbeam Capital Management LLC purchased a new position in shares of Broadcom during the fourth quarter valued at $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom during the fourth quarter valued at $30,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Broadcom during the first quarter valued at $25,000. Inlight Wealth Management LLC purchased a new position in shares of Broadcom during the first quarter valued at $26,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Broadcom during the fourth quarter valued at $37,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 1.7%

Broadcom stock opened at $288.64 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $306.95. The company has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 108.10, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15. The stock has a 50-day moving average price of $266.56 and a 200 day moving average price of $224.55.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its 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. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter in the previous year, the company posted $10.96 earnings per share. The company's revenue was up 20.2% compared to the same quarter last year. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

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. 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 0.8%. Broadcom's payout ratio is presently 88.39%.

Broadcom declared that its Board of Directors has authorized a stock buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

AVGO has been the topic of several analyst reports. Citigroup lifted their target price on Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Benchmark lifted their target price on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Oppenheimer lifted their target price on Broadcom from $265.00 to $305.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Bank of America lifted their target price on Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Cowen reiterated a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $294.92.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the completion of the transaction, the insider directly owned 789,784 shares of the company's stock, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock valued at $217,224,641 in the last three months. 2.00% of the stock is currently owned by company 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.

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