Broadcom Inc. (NASDAQ:AVGO) Shares Sold by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,875 shares of the semiconductor manufacturer's stock after selling 1,409 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Broadcom were worth $16,220,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom during the 1st quarter worth about $25,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter worth about $26,000. Inlight Wealth Management LLC purchased a new stake in Broadcom during the 1st quarter worth about $26,000. Sunbeam Capital Management LLC purchased a new stake in Broadcom during the 4th quarter worth about $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in Broadcom during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the transaction, the insider directly owned 789,784 shares of the company's stock, 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 the SEC website. Also, CFO Kirsten M. Spears sold 56,310 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the completion of the transaction, the chief financial officer directly owned 361,937 shares in the company, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 854,716 shares of company stock worth $221,433,761 in the last ninety days. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on AVGO shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a research report on Friday, June 6th. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. UBS Group lifted their price target on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a report on Friday, June 6th. Benchmark lifted their price target on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $281.46.

Broadcom Stock Up 1.8%

Broadcom stock traded up $4.97 during midday trading on Friday, hitting $274.87. 10,592,655 shares of the company were exchanged, compared to its average volume of 28,575,138. The company's fifty day moving average price is $238.77 and its 200-day moving average price is $217.17. The company has a market cap of $1.29 trillion, a PE ratio of 102.95, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. 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 fifty-two week low of $128.50 and a fifty-two week high of $277.71.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. The firm 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%. Broadcom's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the company posted $10.96 EPS. On average, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom declared that its Board of Directors has initiated a share buyback plan on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Broadcom Announces Dividend

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

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.