MOKAN Wealth Management Inc. Has $5.28 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

MOKAN Wealth Management Inc. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 31,517 shares of the semiconductor manufacturer's stock after purchasing an additional 1,293 shares during the quarter. Broadcom comprises 3.2% of MOKAN Wealth Management Inc.'s holdings, making the stock its 9th biggest position. MOKAN Wealth Management Inc.'s holdings in Broadcom were worth $5,276,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. SlateStone Wealth LLC grew its position in Broadcom by 0.3% during the 4th quarter. SlateStone Wealth LLC now owns 13,832 shares of the semiconductor manufacturer's stock worth $3,207,000 after acquiring an additional 47 shares during the last quarter. True Wealth Design LLC grew its position in Broadcom by 7.2% during the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after acquiring an additional 48 shares during the last quarter. Global Strategic Investment Solutions LLC grew its position in Broadcom by 1.5% during the 4th quarter. Global Strategic Investment Solutions LLC now owns 3,375 shares of the semiconductor manufacturer's stock worth $782,000 after acquiring an additional 50 shares during the last quarter. Cascade Financial Partners LLC grew its position in Broadcom by 1.8% during the 4th quarter. Cascade Financial Partners LLC now owns 2,882 shares of the semiconductor manufacturer's stock worth $668,000 after acquiring an additional 50 shares during the last quarter. Finally, Samalin Investment Counsel LLC grew its position in Broadcom by 1.0% during the 4th quarter. Samalin Investment Counsel LLC now owns 4,983 shares of the semiconductor manufacturer's stock worth $1,155,000 after acquiring an additional 50 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director now owns 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 117,758 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the transaction, the chief executive officer now owns 1,014,152 shares of the company's stock, valued at $256,489,182.32. This represents a 10.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 811,716 shares of company stock worth $209,906,771. 2.00% of the stock is owned by insiders.

Broadcom Stock Down 0.3%

Shares of NASDAQ AVGO traded down $0.82 during mid-day trading on Friday, hitting $269.35. 27,450,264 shares of the stock traded hands, compared to its average volume of 28,910,988. The stock has a fifty day moving average price of $229.43 and a 200-day moving average price of $215.75. The company has a market cap of $1.27 trillion, a price-to-earnings ratio of 100.88, a PEG ratio of 1.92 and a beta of 1.11. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $271.85. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The business 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 firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.96 earnings per share. Research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its board has authorized a stock 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 buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 yield of 0.88%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's payout ratio is 88.39%.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent research reports. Rosenblatt Securities raised their price target on Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Truist Financial set a $295.00 price target on Broadcom and gave the stock a "buy" rating in a research report on Friday, June 6th. Evercore ISI reiterated an "outperform" rating and issued a $304.00 price objective (up from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Wells Fargo & Company lifted their price objective on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday, June 6th. Finally, Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Two equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $281.25.

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.