Savvy Advisors Inc. Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Savvy Advisors Inc. grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 24.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,127 shares of the semiconductor manufacturer's stock after buying an additional 4,590 shares during the period. Savvy Advisors Inc.'s holdings in Broadcom were worth $3,872,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AVGO. LaSalle St. Investment Advisors LLC lifted its position in Broadcom by 33.4% during the first quarter. LaSalle St. Investment Advisors LLC now owns 15,858 shares of the semiconductor manufacturer's stock valued at $2,655,000 after buying an additional 3,972 shares in the last quarter. Agur Provident & Training Funds Management Ltd. raised its stake in shares of Broadcom by 900.0% in the 1st quarter. Agur Provident & Training Funds Management Ltd. now owns 22,200 shares of the semiconductor manufacturer's stock valued at $3,716,000 after acquiring an additional 19,980 shares during the period. Nutshell Asset Management Ltd acquired a new position in shares of Broadcom during the 1st quarter valued at $12,306,000. Union Heritage Capital LLC acquired a new stake in Broadcom in the 1st quarter valued at $1,909,000. Finally, Wambolt & Associates LLC boosted its position in shares of Broadcom by 14.5% in the first quarter. Wambolt & Associates LLC now owns 12,212 shares of the semiconductor manufacturer's stock worth $2,058,000 after buying an additional 1,546 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the topic of several analyst reports. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. The Goldman Sachs Group started coverage on Broadcom in a research note on Thursday, July 10th. They issued a "buy" rating and a $315.00 target price on the stock. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a research report on Tuesday, June 24th. Finally, Wells Fargo & Company raised 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. One equities research analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and a consensus target price of $294.92.

Broadcom Price Performance

Shares of AVGO stock opened at $303.76 on Friday. The firm's 50 day moving average price is $271.57 and its two-hundred day moving average price is $226.37. The stock has a market cap of $1.43 trillion, a PE ratio of 113.77, a PEG ratio of 2.15 and a beta of 1.15. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $310.34. 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 posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same period in the previous year, the firm earned $10.96 earnings per share. The company's revenue was up 20.2% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio is 88.39%.

Insider Activity

In related news, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the sale, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 3,000 shares of the company's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the transaction, the director owned 33,352 shares in the company, valued at approximately $8,842,615.76. This represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 830,516 shares of company stock valued at $217,224,641. 2.00% of the stock is owned by corporate insiders.

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.