PDS Planning Inc Purchases 2,002 Shares of Broadcom Inc. (NASDAQ:AVGO)

PDS Planning Inc boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,460 shares of the semiconductor manufacturer's stock after acquiring an additional 2,002 shares during the period. PDS Planning Inc's holdings in Broadcom were worth $4,430,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AVGO. Canton Hathaway LLC bought a new stake in Broadcom in the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom in the 4th quarter worth $26,000. Inlight Wealth Management LLC bought a new stake in Broadcom in the 1st quarter worth $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom in the 4th quarter worth $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Broadcom in the 4th quarter worth $30,000. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 2.1%

Shares of NASDAQ AVGO opened at $270.17 on Friday. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $271.67. The stock has a market cap of $1.27 trillion, a P/E ratio of 101.19, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The firm has a 50-day moving average of $227.46 and a 200 day moving average of $214.61. 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 (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company earned $10.96 earnings per share. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom declared that its board has authorized a stock repurchase plan on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.87%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Insiders Place Their Bets

In other news, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the transaction, the director now directly owns 25,380 shares of the company's stock, valued at $4,695,300. The trade was a 3.06% 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 25,000 shares of the business's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the transaction, the insider now directly owns 465,956 shares of the company's stock, valued at $83,872,080. The trade was a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 337,818 shares of company stock valued at $84,167,415. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AVGO shares. 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. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Barclays lifted their target price on shares of Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, June 6th. Finally, Wells Fargo & Company lifted their target price on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research note on Friday, June 6th. Two research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $281.25.

Broadcom 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.

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