Liberty Wealth Management LLC Has $6.27 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Liberty Wealth Management LLC significantly increased its stake in Broadcom Inc. by 568.1%, now holding 37,468 shares worth approximately $6.27 million.
• Broadcom's stock is currently down 1.7%, with a market capitalization of $1.36 trillion and a price-to-earnings ratio of 108.10.
• The company recently announced a quarterly dividend of $0.59 per share, with an annualized dividend yield of 0.8% and a payout ratio of 88.39%.

Liberty Wealth Management LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 568.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,468 shares of the semiconductor manufacturer's stock after buying an additional 31,860 shares during the quarter. Liberty Wealth Management LLC's holdings in Broadcom were worth $6,273,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom in the first quarter valued at $25,000. Inlight Wealth Management LLC purchased a new stake in shares of Broadcom in the first quarter valued at $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at $28,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Broadcom in the fourth quarter valued at $30,000. Finally, Wood Tarver Financial Group LLC lifted its position in shares of Broadcom by 342.5% in the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock valued at $30,000 after acquiring an additional 137 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded down $5.06 during mid-day trading on Friday, hitting $288.64. The company had a trading volume of 21,405,316 shares, compared to its average volume of 17,067,202. The stock has a market cap of $1.36 trillion, a price-to-earnings ratio of 108.10, a PEG ratio of 2.05 and a beta of 1.15. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $306.95. 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 firm's 50 day simple moving average is $266.56 and its two-hundred day simple moving average is $224.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. The business 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%. The business's revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted $10.96 EPS. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

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

Broadcom declared that its Board of Directors has initiated a share buyback program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently commented on AVGO. Citigroup upped 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. Truist Financial set a $295.00 target price on Broadcom and gave the company a "buy" rating in a research note on Friday, June 6th. Redburn Atlantic began coverage on Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 target price for the company. KeyCorp upped their target price on Broadcom from $315.00 to $330.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Mizuho upped their target price on Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. One 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. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $294.92.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 800 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $274.30, for a total value of $219,440.00. Following the sale, the director directly owned 24,582 shares in the company, valued at $6,742,842.60. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 36,350 shares of Broadcom stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total value of $9,497,164.50. Following the transaction, the chief financial officer owned 325,587 shares in the company, valued at approximately $85,066,115.49. This trade represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock worth $217,224,641 over the last quarter. Insiders own 2.00% of the company's stock.

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.