Mutual Advisors LLC Buys 3,850 Shares of Broadcom Inc. (NASDAQ:AVGO)

Mutual Advisors LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,184 shares of the semiconductor manufacturer's stock after purchasing an additional 3,850 shares during the quarter. Mutual Advisors LLC's holdings in Broadcom were worth $10,244,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom in the first quarter valued at approximately $25,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $26,000. Inlight Wealth Management LLC bought a new position in shares of Broadcom in the first quarter valued at approximately $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $28,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Broadcom in the fourth quarter valued at approximately $30,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Up 1.8%

NASDAQ:AVGO traded up $4.97 on Friday, hitting $274.87. 10,592,655 shares of the company's stock were exchanged, compared to its average volume of 28,575,138. The firm has a 50-day moving average price of $238.77 and a 200-day moving average price of $217.17. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $277.71. The company has a market cap of $1.29 trillion, a P/E ratio of 102.95, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

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 the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business's revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $10.96 EPS. As a group, analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Broadcom announced that its board has initiated a stock buyback program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AVGO. Cowen restated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Barclays boosted their price objective on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Morgan Stanley boosted their price objective on shares of Broadcom from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Benchmark boosted their price objective on shares of Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Oppenheimer boosted their price objective on shares of Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. One investment analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $281.46.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider owned 789,784 shares in the company, valued at $199,720,577.92. This represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider owned 415,956 shares in the company, valued at approximately $105,353,335.68. The trade was a 10.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 854,716 shares of company stock worth $221,433,761. 2.00% of the stock is currently owned by 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.