Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Moseley Investment Management Inc.

Moseley Investment Management Inc. lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 24.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,347 shares of the semiconductor manufacturer's stock after selling 10,778 shares during the quarter. Broadcom accounts for about 2.2% of Moseley Investment Management Inc.'s portfolio, making the stock its 11th largest position. Moseley Investment Management Inc.'s holdings in Broadcom were worth $5,583,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on AVGO. Truist Financial set a $295.00 target price on shares of Broadcom and gave the company a "buy" rating in a report on Friday, June 6th. KeyCorp raised their price objective on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Oppenheimer boosted their target price on Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Cowen reissued a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Finally, JPMorgan Chase & Co. lifted their price target on Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Two investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $272.71.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 663,976 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the sale, the director now directly owns 26,182 shares of the company's stock, valued at $6,026,834.58. The trade was a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

Shares of AVGO traded up $3.29 during trading hours on Thursday, reaching $256.20. The company had a trading volume of 10,290,941 shares, compared to its average volume of 30,884,353. 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 Inc. has a 12-month low of $128.50 and a 12-month high of $265.43. The firm has a 50 day simple moving average of $209.12 and a 200-day simple moving average of $207.94. The company has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 208.97, a PEG ratio of 2.29 and a beta of 1.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results 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 company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the company posted $10.96 earnings per share. Research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, June 20th. Broadcom's dividend payout ratio is currently 88.39%.

Broadcom announced that its Board of Directors has approved a share buyback plan 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Broadcom Company 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.