2,192 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by Long Island Wealth Management Inc.

Key Points

• Long Island Wealth Management Inc. has acquired a new stake in Broadcom Inc., purchasing 2,192 shares valued at approximately $367,000 in the 1st quarter of the year.
• Broadcom reported a quarterly earnings of $1.58 EPS and revenues of $15 billion, surpassing analyst expectations and reflecting a 20.2% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.59 per share, contributing to an annualized dividend yield of 0.8%, with a payout ratio of 88.39%.

Long Island Wealth Management Inc. acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,192 shares of the semiconductor manufacturer's stock, valued at approximately $367,000.

Several other large investors also recently modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom during the first quarter valued at about $25,000. Cheviot Value Management LLC bought a new stake in Broadcom during the first quarter valued at about $25,000. Inlight Wealth Management LLC bought a new stake in Broadcom during the first quarter valued at about $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom during the fourth quarter valued at about $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Broadcom during the fourth quarter valued at about $30,000. Institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Mizuho upped their price objective on Broadcom from $315.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. HSBC raised 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. Barclays upped their price objective on Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Finally, Bank of America upped their price objective on Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Two investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $295.96.

Broadcom Stock Up 0.7%

Shares of Broadcom stock traded up $2.14 during trading on Thursday, reaching $311.23. The company's stock had a trading volume of 15,694,460 shares, compared to its average volume of 17,086,756. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 116.57, a P/E/G ratio of 2.20 and a beta of 1.15. Broadcom Inc. has a 1-year low of $134.90 and a 1-year high of $317.35. The company has a 50-day simple moving average of $277.08 and a two-hundred day simple moving average of $228.95.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the firm earned $10.96 EPS. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given 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 dividend yield of 0.8%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 800 shares of the firm's stock in a transaction 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 completion of the transaction, the director owned 24,582 shares in the company, valued at $6,742,842.60. This trade represents a 3.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gayla J. Delly sold 3,000 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the transaction, the director owned 33,352 shares of the company's stock, valued at $8,842,615.76. This trade represents a 8.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 829,716 shares of company stock worth $217,040,489. 2.00% of the stock is currently owned by corporate insiders.

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.