Oxinas Partners Wealth Management LLC Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Oxinas Partners Wealth Management LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 51.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,763 shares of the semiconductor manufacturer's stock after buying an additional 1,967 shares during the period. Oxinas Partners Wealth Management LLC's holdings in Broadcom were worth $965,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of 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 purchasing an additional 18,845 shares in the last quarter. Nebula Research & Development LLC raised its holdings 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 acquiring an additional 14,399 shares during the period. Kovack Advisors Inc. lifted its position in shares of Broadcom by 8.1% during the fourth quarter. Kovack Advisors Inc. now owns 34,380 shares of the semiconductor manufacturer's stock worth $7,971,000 after acquiring an additional 2,570 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake in Broadcom by 50.6% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer's stock worth $245,000 after purchasing an additional 355 shares during the period. Finally, Coppell Advisory Solutions LLC increased its stake in Broadcom by 1,512.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock worth $21,660,000 after acquiring an additional 86,884 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on AVGO. Truist Financial boosted their price objective on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Bank of America decreased their price target on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Barclays lowered their price objective on shares of Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Redburn Atlantic initiated coverage on shares of Broadcom in a research report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 target price for the company. Finally, Susquehanna raised their price target on Broadcom from $250.00 to $280.00 and gave the company a "positive" rating in a research report on Thursday, May 29th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $246.00.

Insider Activity at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of AVGO opened at $259.93 on Friday. The firm has a fifty day simple moving average of $202.16 and a two-hundred day simple moving average of $205.65. The firm has a market cap of $1.22 trillion, a PE ratio of 212.02, a P/E/G ratio of 2.29 and a beta of 1.11. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same quarter in the prior year, the business earned $10.96 earnings per share. Broadcom's revenue for the quarter was up 20.2% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 20th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.91%. Broadcom's dividend payout ratio (DPR) is 113.46%.

Broadcom announced that its board has approved a stock repurchase 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 purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its shares are undervalued.

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.

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