Optimist Retirement Group LLC Sells 4,040 Shares of Broadcom Inc. (NASDAQ:AVGO)

Optimist Retirement Group LLC trimmed its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 27.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,534 shares of the semiconductor manufacturer's stock after selling 4,040 shares during the period. Optimist Retirement Group LLC's holdings in Broadcom were worth $1,764,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Broadcom by 3.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock worth $120,070,000 after acquiring an additional 18,845 shares in the last quarter. Nebula Research & Development LLC increased its stake in Broadcom by 1,100.8% during the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after purchasing an additional 14,399 shares in the last quarter. Diversify Wealth Management LLC increased its stake in Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after purchasing an additional 2,016 shares in the last quarter. OMNI 360 Wealth Inc. boosted its holdings in shares of Broadcom by 51.6% in the 1st quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock valued at $499,000 after acquiring an additional 1,014 shares during the last quarter. Finally, Coppell Advisory Solutions LLC boosted its holdings in Broadcom by 1,512.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock worth $21,660,000 after buying an additional 86,884 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 40,000 shares of Broadcom stock in a transaction dated 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 of the company's stock, valued at $129,540,070.44. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the business's 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 of the company's stock, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 830,516 shares of company stock valued at $217,224,641. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AVGO shares. Cowen reiterated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. UBS Group raised their price objective on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Morgan Stanley lifted their price target on shares of Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Finally, The Goldman Sachs Group started coverage on shares of Broadcom in a research note on Thursday, July 10th. They issued a "buy" rating and a $315.00 price objective for the company. One analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of "Buy" and an average target price of $292.08.

Broadcom Trading Down 1.1%

NASDAQ AVGO opened at $283.34 on Friday. The stock's 50-day simple moving average is $254.41 and its two-hundred day simple moving average is $220.25. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $288.28. The company has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 106.12, a PEG ratio of 2.02 and a beta of 1.12. 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 (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm's revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the business earned $10.96 EPS. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

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

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued 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 0.83%. Broadcom's payout ratio is 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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.