Lineweaver Wealth Advisors LLC Has $5.24 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Lineweaver Wealth Advisors LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 14.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,277 shares of the semiconductor manufacturer's stock after purchasing an additional 3,886 shares during the period. Broadcom comprises approximately 0.9% of Lineweaver Wealth Advisors LLC's investment portfolio, making the stock its 25th biggest position. Lineweaver Wealth Advisors LLC's holdings in Broadcom were worth $5,238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. Norges Bank acquired a new stake in shares of Broadcom in the 4th quarter worth about $16,893,010,000. GAMMA Investing LLC raised its holdings in shares of Broadcom by 18,179.3% in the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after acquiring an additional 17,181,652 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Broadcom by 46.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock worth $11,018,089,000 after acquiring an additional 15,171,849 shares during the last quarter. GQG Partners LLC raised its holdings in shares of Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock worth $2,367,819,000 after acquiring an additional 6,809,245 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after acquiring an additional 6,573,204 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Down 1.1%

NASDAQ:AVGO traded down $3.18 during trading hours on Wednesday, reaching $277.76. 1,158,951 shares of the company traded hands, compared to its average volume of 27,932,841. The business's 50-day moving average price is $249.82 and its two-hundred day moving average price is $219.20. The stock has a market capitalization of $1.31 trillion, a P/E ratio of 103.73, a P/E/G ratio of 1.96 and a beta of 1.12. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $283.36. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data 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 company 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 was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.96 earnings per share. Analysts predict 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. Investors of record on Friday, June 20th were given a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.85%. Broadcom's dividend payout ratio is currently 88.39%.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Benchmark upped their target price on shares of Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, June 6th. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a research note on Tuesday, June 24th. Bank of America increased their price objective on shares of Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Oppenheimer increased their price objective on shares of Broadcom from $265.00 to $305.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. One research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of "Buy" and an average target price of $292.08.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 36,350 shares of Broadcom stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the completion of the sale, the chief financial officer directly owned 325,587 shares of the company's stock, valued at $85,066,115.49. The trade was a 10.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the sale, the director directly owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. This trade represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 828,916 shares of company stock worth $216,785,761. 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.

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