NORTHSTAR ASSET MANAGEMENT Co LLC Has $883,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

NORTHSTAR ASSET MANAGEMENT Co LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 25.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,275 shares of the semiconductor manufacturer's stock after buying an additional 1,075 shares during the period. NORTHSTAR ASSET MANAGEMENT Co LLC's holdings in Broadcom were worth $883,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Rialto Wealth Management LLC purchased a new stake in Broadcom in the fourth quarter worth $26,000. Sunbeam Capital Management LLC purchased a new position in Broadcom during the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. purchased a new position in Broadcom in the 4th quarter worth approximately $30,000. Sellwood Investment Partners LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $32,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom in the 1st quarter valued at $25,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 40,000 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the sale, the chief executive officer directly owned 482,836 shares of the company's stock, valued at $129,540,070.44. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the sale, the insider directly owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 854,716 shares of company stock valued at $221,433,761. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Down 0.4%

AVGO stock traded down $1.00 during mid-day trading on Monday, hitting $274.18. 16,743,337 shares of the company were exchanged, compared to its average volume of 28,527,862. The company has a market capitalization of $1.29 trillion, a PE ratio of 102.69, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The firm has a fifty day simple moving average of $238.77 and a 200 day simple moving average of $217.17. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $277.71.

Broadcom (NASDAQ:AVGO - Get Free Report) last released 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 analyst estimates of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.96 EPS. On average, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom declared that its board has approved a stock buyback program 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 stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Broadcom Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have weighed in on AVGO. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Citigroup increased their target price on shares of Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a report on Monday. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Rosenblatt Securities lifted their price objective on shares of Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $282.71.

Broadcom 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.