Mather Group LLC. Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Mather Group LLC. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,737 shares of the semiconductor manufacturer's stock after acquiring an additional 3,128 shares during the quarter. Mather Group LLC.'s holdings in Broadcom were worth $8,495,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at about $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom during the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Broadcom in the fourth quarter valued at approximately $30,000. Sellwood Investment Partners LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $32,000. Finally, Bellevue Asset Management LLC bought a new stake in Broadcom during the fourth quarter worth $33,000. Institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded up $4.63 during trading on Thursday, reaching $274.53. The company had a trading volume of 5,311,096 shares, compared to its average volume of 28,667,494. The company has a fifty day moving average of $235.38 and a two-hundred day moving average of $216.81. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $1.29 trillion, a P/E ratio of 102.99, a price-to-earnings-growth ratio of 1.88 and a beta of 1.12. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $277.71.

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. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter last year, the business posted $10.96 earnings per share. The company's revenue for the quarter was up 20.2% on a year-over-year basis. Equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom announced that its board has authorized a share repurchase plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Insider Transactions at Broadcom

In related news, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the transaction, the chief financial officer owned 325,587 shares of the company's stock, valued at approximately $85,066,115.49. This trade represents a 10.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gayla J. Delly sold 3,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the transaction, the director directly owned 33,352 shares in the company, valued at $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. In the last quarter, insiders sold 854,716 shares of company stock worth $221,433,761. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AVGO. Truist Financial set a $295.00 target price on Broadcom and gave the company a "buy" rating in a research report on Friday, June 6th. Oppenheimer upped their price objective on Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Morgan Stanley increased their price objective on Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Citigroup boosted their target price on Broadcom from $276.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Finally, Barclays upped their price target on Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Two research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $281.46.

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.