J.W. Cole Advisors Inc. Has $7.85 Million Position in Broadcom Inc. (NASDAQ:AVGO)

J.W. Cole Advisors Inc. raised its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 27.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,902 shares of the semiconductor manufacturer's stock after purchasing an additional 10,194 shares during the period. J.W. Cole Advisors Inc.'s holdings in Broadcom were worth $7,853,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Sunbeam Capital Management LLC bought a new stake in Broadcom in the fourth quarter valued at $28,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Broadcom during the 4th quarter valued at approximately $30,000. Sellwood Investment Partners LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at approximately $32,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom during the 1st quarter worth approximately $25,000. Finally, Inlight Wealth Management LLC bought a new stake in Broadcom during the 1st quarter worth approximately $26,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Performance

Shares of AVGO stock traded up $0.48 on Wednesday, hitting $279.07. 8,971,814 shares of the stock traded hands, compared to its average volume of 27,656,094. 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 market capitalization of $1.31 trillion, a PE ratio of 104.54, a PEG ratio of 2.05 and a beta of 1.12. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $290.54. The company's fifty day moving average is $254.41 and its 200 day moving average is $220.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion during 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% on a year-over-year basis. During the same quarter last year, the company posted $10.96 EPS. On average, 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 disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is presently 88.39%.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities lifted their target price on shares of Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Wells Fargo & Company boosted their target price on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research report on Friday, June 6th. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Barclays upped their price target on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Finally, Evercore ISI restated an "outperform" rating and set a $304.00 target price (up previously from $267.00) on shares of Broadcom in a research report on Friday, June 6th. One equities 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $292.08.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the sale, the director owned 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Justine Page sold 800 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $274.30, for a total value of $219,440.00. Following the completion of the sale, the director owned 24,582 shares of the company's stock, valued at $6,742,842.60. This represents a 3.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock worth $217,224,641 in the last three months. Company insiders own 2.00% of the company's stock.

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.