Broadcom Inc. (NASDAQ:AVGO) is Jackson Wealth Management LLC's 6th Largest Position

Jackson Wealth Management LLC cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 175,816 shares of the semiconductor manufacturer's stock after selling 5,398 shares during the period. Broadcom makes up approximately 3.6% of Jackson Wealth Management LLC's holdings, making the stock its 6th largest holding. Jackson Wealth Management LLC's holdings in Broadcom were worth $29,437,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SlateStone Wealth LLC grew its stake in Broadcom by 0.3% in the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock valued at $3,207,000 after buying an additional 47 shares in the last quarter. True Wealth Design LLC raised its stake in Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after purchasing an additional 48 shares in the last quarter. Cascade Financial Partners LLC lifted its position in Broadcom by 1.8% in the 4th quarter. Cascade Financial Partners LLC now owns 2,882 shares of the semiconductor manufacturer's stock worth $668,000 after buying an additional 50 shares during the last quarter. Samalin Investment Counsel LLC lifted its holdings in shares of Broadcom by 1.0% in the 4th quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer's stock worth $1,155,000 after acquiring an additional 50 shares during the last quarter. Finally, Mizuho Bank Ltd. boosted its position in Broadcom by 7.1% during the fourth quarter. Mizuho Bank Ltd. now owns 750 shares of the semiconductor manufacturer's stock valued at $174,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Wells Fargo & Company upped their price target on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a report on Friday, June 6th. Susquehanna boosted their price objective on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research report on Friday, June 6th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Citigroup upped their target price on Broadcom from $276.00 to $285.00 and gave the company a "buy" rating in a report on Monday, June 9th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $281.46.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $1.62 during trading on Monday, hitting $276.80. The company's stock had a trading volume of 6,716,101 shares, compared to its average volume of 28,489,154. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $277.71. The firm has a market cap of $1.30 trillion, a price-to-earnings ratio of 103.68, a P/E/G ratio of 1.96 and a beta of 1.12. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The company has a 50-day moving average of $238.77 and a 200-day moving average of $217.17.

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

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Friday, June 20th. Broadcom's payout ratio is 88.39%.

Broadcom announced that its Board of Directors has authorized a stock repurchase program on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 117,758 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the sale, the chief executive officer directly owned 1,014,152 shares in the company, valued at $256,489,182.32. This trade represents a 10.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henry Samueli sold 473,898 shares of the 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 completion of the sale, the director owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 854,716 shares of company stock valued at $221,433,761. 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.