Long Run Wealth Advisors LLC Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Long Run Wealth Advisors LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 43.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,223 shares of the semiconductor manufacturer's stock after buying an additional 2,494 shares during the period. Long Run Wealth Advisors LLC's holdings in Broadcom were worth $1,377,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Canton Hathaway LLC bought a new position in Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $30,000. Finally, Sellwood Investment Partners LLC bought a new stake in Broadcom during the fourth quarter worth $32,000. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This represents a 1.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 over the last 90 days. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on AVGO. Susquehanna raised their price objective on Broadcom from $250.00 to $280.00 and gave the company a "positive" rating in a research note on Thursday, May 29th. Barclays reduced their price objective on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Bank of America decreased their price objective on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Mizuho boosted their price target on shares of Broadcom from $250.00 to $300.00 and gave the stock an "outperform" rating in a report on Wednesday, May 28th. Finally, Citigroup increased their price objective on Broadcom from $210.00 to $276.00 and gave the company a "buy" rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and an average price target of $246.00.

Broadcom Trading Down 0.4%

Shares of AVGO traded down $1.15 during mid-day trading on Thursday, reaching $259.93. The company's stock had a trading volume of 41,745,758 shares, compared to its average volume of 30,922,784. The stock has a market cap of $1.22 trillion, a PE ratio of 212.02, a P/E/G ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $265.43. The company's fifty day moving average price is $200.31 and its two-hundred day moving average price is $205.00. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.33 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.24). Broadcom had a net margin of 11.43% and a return on equity of 28.00%. On average, analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom declared that its Board of Directors has authorized a share buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.91%. Broadcom's payout ratio is 113.46%.

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.