Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by OneAscent Family Office LLC

OneAscent Family Office LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 297.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,829 shares of the semiconductor manufacturer's stock after purchasing an additional 3,613 shares during the period. OneAscent Family Office LLC's holdings in Broadcom were worth $812,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Barnes Dennig Private Wealth Management LLC purchased a new position in Broadcom during the 1st quarter worth approximately $25,000. Inlight Wealth Management LLC bought a new stake in Broadcom in the first quarter valued at about $26,000. Sunbeam Capital Management LLC acquired a new position in Broadcom in the fourth quarter valued at about $28,000. Vermillion Wealth Management Inc. acquired a new position in Broadcom in the fourth quarter valued at approximately $30,000. Finally, Wood Tarver Financial Group LLC increased its stake in Broadcom by 342.5% in the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock valued at $30,000 after purchasing an additional 137 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Rosenblatt Securities boosted their target price on shares of Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Redburn Atlantic began coverage on shares of Broadcom in a research report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price target for the company. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a report on Tuesday, June 24th. Evercore ISI restated an "outperform" rating and issued a $304.00 price objective (up from $267.00) on shares of Broadcom in a report on Friday, June 6th. Finally, Susquehanna increased their price target on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday, June 6th. One analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $292.08.

Broadcom Trading Up 0.4%

NASDAQ AVGO traded up $1.03 during trading on Wednesday, hitting $279.62. The stock had a trading volume of 8,103,191 shares, compared to its average volume of 27,652,420. The firm has a 50 day moving average price of $254.41 and a 200 day moving average price of $220.17. The company has a quick ratio of 0.98, a current ratio of 1.08 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 $290.54. The company has a market capitalization of $1.32 trillion, a PE ratio of 104.70, a PEG ratio of 2.05 and a beta of 1.12.

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 for the quarter, beating the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion for 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 company's revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company posted $10.96 EPS. As a group, equities research analysts forecast 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 was paid on Monday, June 30th. Investors 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 0.84%. Broadcom's dividend payout ratio is 88.39%.

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

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 40,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $129,540,070.44. This trade represents a 7.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Henry Samueli sold 473,898 shares of Broadcom 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 directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,224,641 over the last ninety days. Company insiders own 2.00% of the company's stock.

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.