River Street Advisors LLC Has $3.28 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

River Street Advisors LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,602 shares of the semiconductor manufacturer's stock after buying an additional 1,156 shares during the quarter. Broadcom accounts for 1.6% of River Street Advisors LLC's portfolio, making the stock its 15th biggest holding. River Street Advisors LLC's holdings in Broadcom were worth $3,282,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Tallon Kerry Patrick bought a new position in Broadcom during the fourth quarter worth about $357,000. Capital & Planning LLC lifted its stake in Broadcom by 15.3% during the fourth quarter. Capital & Planning LLC now owns 4,178 shares of the semiconductor manufacturer's stock worth $969,000 after purchasing an additional 554 shares during the period. LaFleur & Godfrey LLC lifted its stake in Broadcom by 18.7% during the fourth quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock worth $18,145,000 after purchasing an additional 12,345 shares during the period. Brighton Jones LLC lifted its stake in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in Broadcom during the fourth quarter worth about $71,312,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total value of $2,528,800.00. Following the completion of the transaction, the insider now directly owns 789,784 shares of the company's stock, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 849,134 shares of company stock valued at $163,760,949 in the last quarter. Company insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of Broadcom stock opened at $251.26 on Friday. The firm has a fifty day moving average of $219.11 and a two-hundred day moving average of $211.61. The stock has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 94.10, a PEG ratio of 1.79 and a beta of 1.11. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $265.43. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. The company 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 quarter in the previous year, the company posted $10.96 EPS. As a group, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its board has initiated a share repurchase plan on Monday, April 7th that allows the company to repurchase $10.00 billion in 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 usually an indication that the company's management believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 20th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, June 20th. Broadcom's payout ratio is 88.39%.

Analyst Ratings Changes

A number of research analysts have commented on AVGO shares. Oppenheimer raised their price target on shares of Broadcom from $225.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Wall Street Zen cut shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Sunday, June 15th. Mizuho lifted their target price on shares of Broadcom from $300.00 to $310.00 and gave the company an "outperform" rating in a research note on Friday, June 6th. Truist Financial set a $295.00 target price on shares of Broadcom and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, June 6th. Three investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and an average price target of $276.09.

Broadcom Company 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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