OneAscent Investment Solutions LLC Takes $234,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Key Points

• OneAscent Investment Solutions LLC has acquired a new stake in Broadcom Inc., purchasing 1,400 shares valued at approximately $234,000 in the first quarter.
• Multiple institutional investors have significantly increased their positions in Broadcom, with DSM Capital Partners LLC raising their stake by an extraordinary 9,598.6%.
• Broadcom's stock recently opened at $309.09, with the company reporting a 20.2% year-over-year revenue growth and beating earnings estimates in its latest quarterly results.

OneAscent Investment Solutions LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,400 shares of the semiconductor manufacturer's stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC lifted its holdings in shares of Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after acquiring an additional 48 shares during the last quarter. Fulton Breakefield Broenniman LLC lifted its holdings in Broadcom by 2.4% during the 1st quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock valued at $357,000 after buying an additional 50 shares in the last quarter. American Financial Advisors LLC lifted its holdings in Broadcom by 3.8% during the 1st quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer's stock valued at $240,000 after buying an additional 52 shares in the last quarter. GS Investments Inc. lifted its holdings in Broadcom by 0.5% during the 1st quarter. GS Investments Inc. now owns 11,397 shares of the semiconductor manufacturer's stock valued at $1,908,000 after buying an additional 52 shares in the last quarter. Finally, First Bank & Trust lifted its holdings in Broadcom by 1.9% during the 1st quarter. First Bank & Trust now owns 2,945 shares of the semiconductor manufacturer's stock valued at $493,000 after buying an additional 55 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 0.7%

Shares of Broadcom stock traded up $2.14 on Thursday, reaching $311.23. The stock had a trading volume of 15,694,460 shares, compared to its average volume of 17,086,756. The company has a 50 day moving average price of $277.08 and a 200 day moving average price of $228.95. 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 1 year low of $134.90 and a 1 year high of $317.35. The stock has a market capitalization of $1.46 trillion, a P/E ratio of 116.57, a P/E/G ratio of 2.20 and a beta of 1.15.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. Broadcom's revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.96 EPS. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio is 88.39%.

Analyst Ratings Changes

A number of brokerages recently weighed in on AVGO. Morgan Stanley set a $338.00 price objective on shares of Broadcom and gave the company an "overweight" rating in a report on Wednesday, July 30th. UBS Group lifted their price objective on shares of Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a report on Friday, June 6th. The Goldman Sachs Group reiterated a "buy" rating and set a $340.00 price objective on shares of Broadcom in a report on Wednesday. Benchmark lifted their price objective on shares of Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Wall Street Zen lowered shares of Broadcom from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and an average target price of $295.96.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the stock in a transaction on Wednesday, June 25th. The shares were 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 of the company's stock, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 40,000 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the transaction, the chief executive officer directly owned 482,836 shares in the company, valued at approximately $129,540,070.44. The trade was a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 829,716 shares of company stock worth $217,040,489. Company insiders own 2.00% of the company's stock.

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.