Strategic Blueprint LLC Has $2.62 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Strategic Blueprint LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,621 shares of the semiconductor manufacturer's stock after selling 940 shares during the period. Strategic Blueprint LLC's holdings in Broadcom were worth $2,615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at approximately $25,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $26,000. Inlight Wealth Management LLC acquired a new position in shares of Broadcom in the first quarter valued at approximately $26,000. Sunbeam Capital Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $28,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Broadcom in the 4th quarter worth $30,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity

In related news, Director Henry Samueli sold 473,898 shares of Broadcom 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 completion of the sale, the director directly owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the sale, the insider directly owned 415,956 shares of the company's stock, valued at $105,353,335.68. This represents a 10.73% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 854,716 shares of company stock valued at $221,433,761. Company insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Broadcom stock traded down $1.00 during mid-day trading on Monday, hitting $274.18. 16,743,337 shares of the company's stock traded hands, compared to its average volume of 28,527,862. The firm has a 50 day simple moving average of $240.40 and a two-hundred day simple moving average of $217.54. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $277.71. The stock has a market cap of $1.29 trillion, a price-to-earnings ratio of 102.69, a P/E/G ratio of 1.96 and a beta of 1.12. 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 posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) 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 analysts' expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. Broadcom's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the company posted $10.96 EPS. On average, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom announced that its Board of Directors has authorized a stock repurchase program on Monday, April 7th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.

Broadcom Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.86%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Analyst Ratings Changes

AVGO has been the subject of a number of research analyst reports. Citigroup upped their target price on shares of Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a research note on Monday. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. JPMorgan Chase & Co. upped their price objective on Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Mizuho upped their price target on Broadcom from $310.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, UBS Group upped their price target on Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $282.71.

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.