Oakwell Private Wealth Management LLC Has $491,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Oakwell Private Wealth Management LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 69.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,931 shares of the semiconductor manufacturer's stock after buying an additional 1,197 shares during the quarter. Oakwell Private Wealth Management LLC's holdings in Broadcom were worth $491,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom during the first quarter valued at approximately $25,000. Inlight Wealth Management LLC bought a new position in Broadcom during the first quarter valued at approximately $26,000. Sunbeam Capital Management LLC bought a new position in Broadcom during the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom during the fourth quarter valued at approximately $30,000. Finally, Wood Tarver Financial Group LLC raised its position in Broadcom by 342.5% during the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock valued at $30,000 after acquiring an additional 137 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Trading Up 1.8%

Shares of AVGO stock traded up $5.10 on Wednesday, hitting $283.69. The stock had a trading volume of 20,467,451 shares, compared to its average volume of 27,700,661. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $295.19. The firm has a market cap of $1.33 trillion, a P/E ratio of 106.25, a PEG ratio of 2.05 and a beta of 1.12. 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 company has a fifty day moving average price of $254.41 and a two-hundred day moving average price of $220.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same period last year, the company earned $10.96 earnings per share. The firm's revenue was up 20.2% compared to the same quarter last year. As a group, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders 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 dividend yield of 0.83%. Broadcom's payout ratio is 88.39%.

Broadcom declared that its Board of Directors has approved a stock buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

AVGO has been the subject of several analyst reports. Rosenblatt Securities boosted their target price on Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group began coverage on Broadcom in a research note on Thursday, July 10th. They set a "buy" rating and a $315.00 target price for the company. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company lifted their target price on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday, June 6th. 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $292.08.

Insider Buying and Selling

In other news, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $274.30, for a total transaction of $219,440.00. Following the completion of the sale, the director owned 24,582 shares in the company, valued at $6,742,842.60. The trade was a 3.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Henry Samueli sold 473,898 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 830,516 shares of company stock valued at $217,224,641. Insiders own 2.00% of the company's stock.

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.